In the night session yesterday, the most-traded SHFE tin futures contract closed at 246,740 yuan/mt, up 4,640 yuan/mt, an increase of 1.92%, with a high of 246,800 yuan/mt and a low of 240,630 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 premiums of 1,000-1,500 yuan/mt over SHFE 2409 tin contract, versus premiums of 800-1,800 yuan/mt for delivery brands and premiums of 1,000-1,400 yuan/mt for Yunxi brand. Tin prices surged and then fell back yesterday, with downstream producers showing a strong wait-and-see sentiment in the morning. However, purchasing enthusiasm increased in the afternoon as tin prices declined. Overall, the spot market was relatively active yesterday.
