SMM

SHFE 2404 tin contract went up, closing at 232,120 yuan/mt, up 1.85%. 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 600-1,300 yuan/mt over SHFE 2404 tin contract, versus discounts of 1,000 yuan/mt to premiums of 400 yuan/mt for delivery brands, premiums of 200-700 yuan/mt for Yunxi brand, and discounts of 1,100-1,400 yuan/mt for imported brand tin ingots. Tin prices rose to 230,000 yuan/mt and then dropped slightly yesterday, suppressing downstream and terminal companies from purchasing. Few deals were heard among traders.