SHFE 1709 Tin Ends with Small Gains (2017-7-3)

[Domestic Zinc Concentrate Market]This week, domestic zinc concentrate treatment charges (TCs) across multiple regions in China were gradually finalized, with July TCs continuing to decline from June levels. The primary driver behind the latest reduction was the persistently weak domestic-to-overseas price ratio, which pushed losses on imported zinc concentrate to nearly RMB 2,000/mt once again. As a result, Chinese smelters continued to prioritize purchases of domestic zinc concentrate in July, keeping the domestic concentrate market in a tight supply-demand balance.

[SMM Analysis: “Tight Resource Balance” Meets “Computing Power Revaluation”—2026 H1 Tin Price Deep Review and H2 Outlook] In 2026 H1, tin prices exhibited a wide-ranging tug-of-war pattern of “reaching record highs—pulling back to consolidate—rallying again—consolidating at highs.” The most-traded LME tin contract surged from about $42,000/mt at the beginning of the year to a record high of $59,000/mt, pulled back to $40,500 in March, rallied again to around $58,000 from April to May, and fell below $50,000 at end-June; the most-traded SHFE tin contract surged from 330,000 yuan/mt at the beginning of the year to a record high of 470,000 yuan/mt, dipped to 322,600 yuan/mt in March, touched 451,000 yuan/mt again in early June, and pulled back below 400,000 yuan/mt at month-end.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 10 Jul , 2026