On Thursday, the most-traded SHFE tin SN2505 contract fluctuated upward during the day and rangebound at night, while LME tin was in the doldrums. Spot market: It was heard that small brands were at a premium of 500-1,000 yuan/mt for May, Yuntou brands were at a premium of 1,000-1,500 yuan/mt for May, and Yunnan Tin was at a premium of 1,500-2,000 yuan/mt for May.
Overall, the geopolitical imbalance in the DRC has eased, and the Bisie tin mine has resumed production in phases, alleviating concerns about tight global tin ore supply. However, it is difficult to change the tight pattern of tin ore in Q2. Meanwhile, macro risks have been temporarily repaired, and market pessimism has been released, with futures prices returning above 250,000. It is expected that tin prices will rebound after overselling and then consolidate in the short term, with attention paid to downstream restocking at low levels and the resumption of production in Wa State.
(Source: Jinyuan Futures)
