SMM Morning Comment For Aluminium Market On December 21

SHANGHAI, December 21 (SMM) – SHFE 2401 tin contract rose to 209,400 yuan/mt overnight and then declined to 208,200 yuan/mt, closing at 209,550 yuan/mt, up 0.23%.
Yesterday, spot premiums and discounts in domestic spot market for various tin ingot brands did not changes much. Small brand tin ingots were offered at premiums of 0-200 yuan/mt over SHFE 2401 tin contract, versus premiums of 200-800 yuan/mt for delivery brands, premiums of 1,000-1,100 yuan/mt for Yunxi brand, and discounts of 500-700 yuan/mt imported brand tin ingots. The price of tin fell yesterday, and trading companies said that downstream companies were less willing to purchase, with most transactions being driven by essential needs. Overall, the spot market yesterday was relatively subdued.