SMM

In the overnight session yesterday, the SHFE 2406 tin contract closed at 271,750 yuan/mt, down 1,640 yuan/mt, a decrease of 0.6%, with a high of 274,460 yuan/mt and a low of 270,600 yuan/mt.
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 500-800 yuan/mt over SHFE 2406 tin contract, versus discounts of 300 yuan/mt to premiums of 300 yuan/mt for delivery brands, and premiums of 300-600 yuan/mt for Yunxi brand. Tin prices moved rangebound yesterday, and downstream companies restocked only as needed. Overall, the spot market transactions were relatively poor yesterday.