SHFE tin maintained an upward trend during the night session, while spot market transactions cooled down [SMM Tin Morning Brief]. Macro: (1) China's self-developed new generation of domestic general-purpose processor, Loongson 3C6000, was launched in Beijing. Its performance is comparable to that of mainstream products in the market in 2023 or 2024. The newly released Loongson 3C6000 adopts China's self-designed instruction set architecture, LoongArch, without relying on any foreign authorized technology or overseas supply chains. It is a new generation of general-purpose processor independently developed and controlled by China, capable of meeting the computational needs of various scenarios such as general computing, intelligent computing, storage, industrial control, and workstations. (Bullish ★) (2) The National Development and Reform Commission (NDRC) held a press conference in June. At the conference, Li Chao, Deputy Director of the Policy Research Office of the NDRC, stated that in terms of the trade-in policy for consumer goods, the support from ultra-long-term special treasury bonds amounts to 300 billion yuan. The first two batches, totaling 162 billion yuan, have been allocated in January and April this year as planned. The third batch of funds for the trade-in policy of consumer goods this year will be allocated in July. Meanwhile, the NDRC will coordinate with relevant parties, adhering to the principles of greater continuity and balance, to formulate monthly and weekly implementation plans for the use of national subsidy funds in different fields, ensuring the orderly implementation of the trade-in policy for consumer goods throughout the year. (Bullish ★)

Overnight, LME copper opened at $9,692.5/mt, reaching a high of $9,738.0/mt and a low of $9,684/mt, before closing at $9,727.0/mt, up 0.65%. Trading volume reached 14,874 lots, with open interest at 286,436 lots.

Overnight, LME copper opened at $9,643.5/mt, dipping to a low of $9,615.0/mt and peaking at $9,697.0/mt, before closing at $9,694.5/mt, up 0.35%.

On Friday evening, LME copper opened at $9,628.5/mt, surging to a high of $9,700/mt in the early session, then fluctuating downward, hitting a low of $9,621.5/mt during the session, and experiencing a slight correction towards the end, ultimately closing at $9,660.5/mt, up 0.43%.

Overnight, LME copper opened at $9,619.5/mt, hitting an intraday high of $9,635.5/mt shortly after the opening bell.

Overnight, LME copper opened at $9,668/mt, hitting a high of $9,694.5/mt at the beginning of the session before fluctuating downward throughout the session, touching a low of $9,648/mt near the close, and eventually closing at $9,650.5/mt, down 0.2%.

US Fed's June Interest Rate Meeting - Maintains Rates Unchanged for the Fourth Consecutive Time; SHFE Tin Prices Rebound Slightly After Hitting Bottom [SMM Tin Morning News] Macro: (1) The US Fed's June interest rate meeting maintained rates unchanged for the fourth consecutive time. The dot plot indicates two interest rate cuts this year, but the number of officials expecting no rate cuts this year has risen to seven, and the expected number of rate cuts next year has been reduced to one. Powell continues to emphasize uncertainty, stating that the current economic situation is suitable for a wait-and-see approach. He also anticipates tariff-driven inflation to rise in the coming months. (2) According to Yonhap News Agency, citing a plan reported by South Korea's Ministry of Science and ICT to the Presidential National Policy Planning Committee, the South Korean government will invest 16.1 trillion won in the AI sector over the next five years. It will ensure the secure supply of 50,000 GPUs and build AI data centers. Support will be provided for the development of AI models, making them accessible to all citizens. (Bullish ★) (3) The "Several Policy Measures to Support the High-Quality Development of the Integrated Circuit Industry in Guangzhou Development Zone and Huangpu District" has been issued, aiming to help build the core carrier area for the third pole of China's integrated circuit industry. It mentions optimizing the industrial development layout, achieving breakthroughs in areas such as chip design, specialty processes, advanced packaging and testing, EDA tools, equipment, and parts, creating an entire industry chain covering design, manufacturing, materials, equipment and parts, packaging and testing, and establishing a comprehensive integrated circuit industry cluster. (Bullish ★)

At the Indonesia Critical Minerals Conference & Expo 2025 - Tin Session, Stephanus Paulus Lumintang, CEO of Jakarta Futures Exchange (JFX), shared insights on the topic of "The Future Development of Indonesia's Tin Industry Policy."

High prices curb downstream purchase willingness. SHFE tin prices fluctuate rangebound at 263,000 yuan/mt. [SMM Tin Morning News] Macro: (1) The National Association of Financial Market Institutional Investors held a symposium on supporting the high-quality development of automakers in China's interbank market. (Bullish ★) (2) Guangzhou Huangpu: Encourage the development of high-end semiconductor and sensor materials to build the core bearing area of the third pole of China's integrated circuit industry. (Bullish ★) (3) The "first move" of Michelle Bowman, the newly appointed Vice Chair for Supervision of the US Fed: A meeting will be convened to discuss relaxing bank leverage ratio requirements.