The price of the most active SHFE 2402 tin contract fell rapidly after opening in overnight trading session, reaching a low of 204050 yuan/mt. The prices finally closed at 204530 yuan/mt last evening, a rise of 0.08%.
During the early trading yesterday, spot quotes of various domestic tin ingot brands did not change much. Among them, the discounts of small brand tin ingots stood at a maximum of 500-100 yuan/mt, and the premiums of delivery brands ranged from discounts of Guangdong against 100 yuan/mt to 600 yuan/mt. Yunxi brand was quoted with premiums of 900-1000 yuan/mt, and imported tin brand were quoted with discounts of 1200-900 yuan/mt. The price of tin fluctuated downward in early trading yesterday. Trading companies reported that the purchasing enthusiasm of downstream companies has weakened. Some companies have completed replenishment and were waiting for tin prices to fall. Yesterday, most trading companies traded 10-20 tons, and a small number of trading companies traded around 2 vehicles. Generally speaking, the spot market transactions yesterday cooled down but were still relatively brisk.
