SMM

SHFE 2404 tin contract inched lower to 222,100 yuan/mt before closing at 222,540 yuan/mt overnight, up 0.4%.
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 700-1,000 yuan/mt against SHFE 2404 tin contract, versus discounts of 500 yuan/mt to premiums of 400 yuan/mt for delivery brands, premiums of 600-700 yuan/mt for Yunxi brand, and discounts of 700-1,000 yuan/mt for imported brand tin ingots. Tin prices remained at highs yesterday, with downstream companies taking a wait-and-see attitude. Few deals were heard among traders.