The news of the resumption of operations at the Bisie tin mine boosted market confidence. SHFE tin prices may remain rangebound in the short term. [SMM Tin Morning Meeting Summary]

SMM Morning Meeting Summary: News of Bisie Tin Mine Resuming Operations Boosts Market Confidence, SHFE Tin Prices May Remain Rangebound in the Short Term. This week, the domestic and overseas tin markets were influenced by multiple factors, showing a fluctuating trend overall. The US announcement of imposing "reciprocal tariffs" on several countries sparked market concerns, leading to fluctuations in the US dollar index and a rise in risk-averse sentiment, which put pressure on non-ferrous metal prices. The supply-demand pattern in the domestic tin ore market remained tight. In terms of supply, the operating rates of refined tin smelters in Yunnan and Jiangxi pulled back, constrained by tight raw material supply, especially due to the delayed resumption of production in Myanmar and the 7.9-magnitude earthquake that occurred last weekend, which intensified market panic over tin ore supply. On the demand side, downstream solder companies made just-in-time procurement along with some restocking, but the "trade-in" policy and high production schedules for home appliances provided potential support for demand. Although the news of Bisie Tin Mine resuming operations once boosted market confidence, overall, SHFE tin prices may remain in the doldrums within the range of 252,000-266,000 yuan/mt in the short term. Investors need to closely monitor the developments in the DRC, the resumption of production in Wa State, and macro policy directions, operate cautiously, and avoid chasing high risks...