SMM

SHFE 2404 tin contract dropped slightly and then rebounded, closing at 223,570 yuan/mt, up 0.1%.
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 400-1,300 yuan/mt over SHFE 2404 tin contract, versus discounts of 600 yuan/mt to premiums of 300 yuan/mt for delivery brands, premiums of 200-700 yuan/mt for Yunxi brand, and discounts of 1,500 yuan/mt for imported brand tin ingots. Tin prices rose sharply yesterday, suppressing downstream and terminal companies from purchasing. Few deals were heard among traders.