In the night session yesterday, the SHFE 2406 tin contract closed at 273,950 yuan/mt, down 4,920 yuan/mt or 1.76%, with a high of 277,380 yuan/mt and a low of 272,220 yuan/mt.
Yesterday, spot premiums and discounts in domestic spot market for various tin ingot brands were as below. Small brand tin ingots were offered at discounts of 500-1,000 yuan/mt over SHFE 2406 tin contract, versus discounts of 500 yuan/mt to premiums of 300 yuan/mt for delivery brands, discounts of 300 yuan/mt to premiums of 600 yuan/mt for Yunxi brand, and discounts of 700 yuan/mt for imported brand tin ingots. Tin prices fell during the morning session yesterday, and downstream companies showed little willingness to purchase, with most choosing to wait and see. Overall, the spot market was relatively quiet yesterday.
