(SMM) - SHFE tin continued rising, with two consecutive rises. LME zinc rose less than SHFE zinc. As of the close in the day, SHFE tin rose 2.95% and as of 15:10, LME tin rose 1.05%

  (SMM) - SHFE tin continued rising, with two consecutive rises. LME zinc rose less than SHFE zinc. As of the close in the day, SHFE tin rose 2.95% and as of 15:10, LME tin rose 1.05%

 Spot market: The SMM average spot price of 1# tin today was 337,500 yuan/mt, almost flat from yesterday, with an increase of 0.07%. It has continued to decline since the Apr 19, with a decrease of 2.7% in six trading days

 According to SMM research, the overall quotation of smelters in early trading changed little compared with yesterday, and some manufacturers were still willing to hold the prices firm. According to the feedback of traders, the overall quotation of domestic brands was stable today, and the quotation of imported products remained flat over the 2205 contract. The overall shipment performance of the market was poor. Some merchants lowered their quotation for shipment, but the effect was modest. Downstream enterprises purchased as needed within the wait-and-see mood as the prices rebounded. So some merchants did not sign a deal at a low price

 According to SMM research, the domestic warrant inventory continued to decrease driven by the stable shipment in the spot market. Overseas inventory remained stable, and the quotation of imported long-term products increased slightly

 According to SMM analysis, from the futures trend, the most trade SHFE tin contract has been transferred to 2206 contract yesterday. After the opening, the long and short left the market, and the prices fluctuation gradually narrowed

 To sum up, the contradiction between supply and demand at the fundamental level of the tin industry chain was not prominent recently, and the market speculation has weakened. SMM expects that the short-term tin prices will remain high

 [Disclaimer: The above representation and data is based on market information SMM believes to be reliable at the time of acquiring as well as the comprehensive assessment by SMM research team, and any and all information provided in this article is for reference only. This article does not constitute a direct recommendation for investment or any decisions in any form and clients shall act on their own discreet and any decisions made by clients are not within the responsibility of SMM.]