SMM Tin Market Morning Comment (July 29)

Published: Jul 29, 2024 09:46

Source: SMM

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In the night session last Friday, the most-traded SHFE tin contract closed at 248,210 yuan/mt, up by 2,000 yuan/mt, an increase of 0.81%. The highest price was 248,600 yuan/mt, and the lowest was 245,680 yuan/mt.

Last Friday, spot premiums and discounts in domestic spot market for various tin ingot brands were as below. Small brand tin ingots were offered at premiums of 500-600 yuan/mt over SHFE 2408 tin contract, versus premiums of 800-1,400 yuan/mt for delivery brands, and premiums of 1,200-1,600 yuan/mt for Yunxi brand. Last Friday morning, SHFE tin prices fluctuated upwards, but overall prices remained at relatively low levels recently, with downstream purchasing enthusiasm still high. Overall, the spot market remained active.

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