The Ministry of Industry and Information Technology (MIIT) and seven other departments issued the Work Plan for Stable Growth of the Non-ferrous Metals Industry (2025-2026). It mentioned that from 2025 to 2026, the added value of the non-ferrous metals industry is expected to grow by about 5% annually, with economic benefits maintaining a positive trend.

[SMM Tin Midday Review: Tin Market in the Doldrums in the Morning Session, Downstream Stockpiling Nears Completion Ahead of the National Day Holiday] This morning, the most-traded SHFE tin 2511 contract moved downwards after a higher opening. It opened at 274,070 yuan/mt, up 520 yuan from the previous day, but futures soon came under pressure and pulled back. By the midday close, it settled at 271,950 yuan/mt, down 1,600 yuan or 0.58%. Trading activity remained sluggish, with some funds opting to take profits ahead of the holiday. Combined with rising risk aversion on the macro front, tin prices remained in the doldrums. On the LME side, tin closed up 0.07% at $34,415 overnight, but LME tin inventory increased by 35 mt from the previous day to 2,775 mt. With low inventory providing support and inventory buildup exerting pressure, LME tin is likely to continue fluctuating in the short term.

SHFE tin futures maintained high fluctuations during the night session. Downstream enterprises generally maintained rigid procurement due to cost pressure. [SMM Tin Morning News] Futures: The most-traded SHFE tin contract (SN2511) opened slightly lower during the night session and maintained a fluctuating trend, closing at 273,200 yuan/mt, down 0.12% from the previous trading day.

[SMM Morning Meeting Minutes: Weak Fundamentals Coupled with Approaching National Day Holiday, Tin Prices Expected to Maintain Fluctuating Trend] Last week, on the macro front, US Fed officials adopted a relatively cautious stance toward further interest rate cuts, believing that current interest rates are in a good equilibrium and that no further easing is necessary. Regarding US economic data, although the job market remains close to maximum employment, inflation issues persist, requiring the US Fed to be very cautious when unwinding restrictive monetary policies.

[SMM Tin Midday Review: Tin Market Fluctuated Upward in the Midday Session, Pre-Holiday Capital Games Intensified] On September 26, 2025, during the midday session, the most-traded SHFE tin 2511 contract showed an upward fluctuation pattern. By the midday close, the most-traded SHFE tin contract was quoted at 274,570 yuan/mt, up 1,100 yuan from the previous day's settlement price, an increase of about 0.4%. In the night session, SHFE tin was in the doldrums, closing slightly lower at the end. Today's morning session opened with range-bound fluctuations, trading atmosphere was somewhat cautious during the session, and prices saw a slight uptick towards the close. In external markets, the London Metal Exchange (LME) tin price performed relatively firm; overnight, LME tin closed at $34,440/mt, up $119, a gain of 0.35%. During the Asian session, LME tin was quoted at $34,515/mt, showing a technically upward fluctuation trend.

SHFE tin prices fluctuated at highs during the night session, while the spot market was suppressed with overall sluggish trading. [SMM Tin Morning Brief] Futures: The most-traded SHFE tin contract (SN2511) fluctuated downward at the opening of the night session before rebounding, closing at 273,400 yuan/mt, down 0.01% from the previous trading day.

[SMM Tin Midday Review: SHFE Tin Prices Fluctuate at Highs, Low Inventory Continues to Support Tin Prices] On the midday of September 24, 2025, the most-traded SHFE tin 2510 contract fluctuated at highs. By the midday close, the most-traded contract was quoted at 271,960 yuan/mt, up 1,710 yuan or about 0.63% from the previous trading day, with the trading range between 269,880 yuan/mt and 272,110 yuan/mt. SHFE tin futures rose with fluctuations after opening today, showing a corrective rebound trend in futures. In external markets, the London Metal Exchange (LME) tin price closed up 0.73% overnight at $34,270/mt, an increase of $250 from the previous session. The low inventory situation supported tin prices. During the Asian session, LME tin prices consolidated gains above the $34,000/mt level, showing a tendency to fluctuate upward technically.

[SMM Tin Morning News] Futures: The most-traded SHFE tin 2510 contract opened higher in the night session and fluctuated upward, closing at 272,900 yuan/mt, up 0.51% slightly from the previous trading day.

[SMM Tin Futures Review: Expectations of Loose Market Liquidity Support Tin Prices, SHFE Tin Prices Rise Slightly Intraday] On September 24, 2025, the most-traded SHFE tin 2510 contract showed a pattern of fluctuating at highs. At the midday break, it was tentatively quoted at 271,960 yuan/mt, up 1,710 yuan, or 0.63%, from the previous trading day. In the afternoon session, the gains were further consolidated, closing at 271,650 yuan/mt, with an intraday increase of 0.52%. The trading range for the day was between 269,880 yuan/mt and 272,530 yuan/mt. On the London Metal Exchange (LME), tin prices also strengthened, closing up 0.73% overnight at $34,270/mt. During the Asian trading session, prices consolidated above the $34,000/mt level, but experienced a slight correction to around $34,400/mt during European trading hours, showing a technically fluctuating upward trend.

[SMM Tin Midday Review: SHFE Tin Prices Fluctuate at Highs in Midday Trading, Supported by Tight Supply-Demand Balance and Improved Macro Sentiment] On September 24, 2025, during the midday session, the most-traded SHFE tin 2510 contract showed a pattern of fluctuating at highs. As of the midday close, the most-traded contract was temporarily quoted at 271,960 yuan/mt, up 1,710 yuan from the previous trading day, an increase of approximately 0.63%. The trading range during the session was between 269,880 yuan/mt and 272,110 yuan/mt. Today, SHFE tin futures fluctuated upward after opening, with the futures showing a trend of corrective rebound. In external markets, the London Metal Exchange (LME) tin price closed up 0.73% overnight at $34,270/mt, an increase of $250 from the previous trading day. The low inventory situation provided support for tin prices. During the Asian session, LME tin prices consolidated gains above the $34,000 mark, showing a technically strong trend of fluctuating upward.