China Automotive Engineering Research Institute Co., Ltd. and Yinwang Sign Strategic Cooperation Agreement; SHFE Tin Prices Fluctuate Upward During Night Session [SMM Tin Morning News]

Published: May 27, 2025 08:58

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China Automotive Engineering Research Institute Co., Ltd. (CAERI) and Yingwang Sign Strategic Cooperation Agreement; Night Session SHFE Tin Prices Fluctuate Upward [SMM Tin Morning News] Macro: (1) Cui Dongshu, Secretary General of the China Passenger Car Association (CPCA): From January to April, China's automobile exports reached 2.16 million units, with a YoY growth rate of 15%. (Bullish ★) (2) CAERI and Yingwang signed a strategic cooperation agreement, covering areas such as think tank construction and digital model development. (Bullish ★) (3) Moody's maintains China's sovereign credit rating; Ministry of Finance: A positive reflection of the country's promising economic outlook. (Bullish ★) (4) Tariffs - ① The fourth round of tariff negotiations between Japan and the US is scheduled to take place on the 30th. The Japanese government plans to utilize 900 billion yen in national funds to mitigate the impact of US tariffs. ② EU: In negotiations with the US, the EU's proposal of "zero tariffs for zero tariffs" remains on the table; it is reported that the EU plans to accelerate negotiations with the US. ③ South Africa proposes to purchase US liquefied natural gas (LNG) to reach a trade agreement. (Neutral)

SMM Morning Tin News on May 27, 2025:

Futures Market: The most-traded SHFE tin contract (SN2506) opened slightly higher in the night session and fluctuated upward. Prices stabilized before the close of the night session, with the price trending upward to around 265,900 yuan/mt, up 0.58% from the previous trading day.

Macro: (1) Cui Dongshu, Secretary General of the China Passenger Car Association, stated that China exported 2.16 million vehicles from January to April, with a YoY growth rate of 15%. (Bullish ★) (2) China Automotive Engineering Research Institute Co., Ltd. (CAERI) signed a strategic cooperation agreement with Yinwang, covering areas such as think tank construction and digital model development. (Bullish ★) (3) Moody's maintained China's sovereign credit rating. The Ministry of Finance stated that this reflects a positive outlook on China's economic prospects. (Bullish ★) (4) Tariffs - ① The fourth round of tariff negotiations between Japan and the US is scheduled for the 30th. The Japanese government plans to use 900 billion yen in national funds to mitigate the impact of US tariffs. ② EU: In negotiations with the US, the EU's proposal for "zero tariffs for zero tariffs" remains on the table. It is reported that the EU plans to accelerate negotiations with the US. ③ South Africa proposed purchasing US liquefied natural gas to reach a trade agreement. (Neutral)

Fundamentals: (1) Supply-side disruptions: The overall supply of tin ore in major producing regions such as Yunnan has tightened. Subsequently, some smelters may halt production for maintenance to address the shortage of raw materials. (Bullish ★) (2) Demand side: After the Labour Day holiday, some downstream processing enterprises gradually resumed operations, and there was some release of restocking demand at lower prices. However, transactions at higher prices remained sluggish. (Bearish ★)

Spot Market: Traders actively quoted prices in line with the futures market, but high prices suppressed some demand, and wait-and-see sentiment persisted. Some downstream enterprises reduced forward orders due to uncertainties surrounding tariff policies.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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