SMM Tin Market Morning Comment (July 18)

The closing price of the most-traded SHFE tin contract in the night session yesterday was 267,670 yuan/mt, down 5,340 yuan/mt, a decrease of 1.96%. The highest price was 275,050 yuan/mt, and the lowest was 266,880 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 200-700 yuan/mt over SHFE 2408 tin contract, versus discounts of 400 yuan/mt to premiums of 500 yuan/mt for delivery brands and premiums of 400-700 yuan/mt for Yunxi brand. During the morning session yesterday, SHFE tin prices remained high. Downstream companies mostly purchased as needed. Overall, the spot market remained sluggish yesterday.