[SMM Tin Midday Review: Macro Sentiment Drives Broad-Based Gains in Nonferrous Metals Sector, SHFE Tin Prices Maintain Fluctuating Upward Trend] At midday on September 12, 2025, the most-traded SHFE tin 2510 contract closed at 273,550 yuan/mt. During the morning trading session, prices fluctuated at highs, once approaching the 275,000 yuan/mt mark, continuing the recent pattern of holding up well. The London Metal Exchange (LME) tin contract closed at $34,700/mt in the previous trading session, up $65 from the previous day, a gain of 0.19%. The simultaneous strength in SHFE and LME tin prices is primarily supported by strengthened expectations for an interest rate cut on the macro front and tight supply fundamentals.

Retail Sales of New Energy Passenger Vehicles Nationwide Fell 3% YoY SHFE Tin Prices Maintained Fluctuating Rangebound Trend [SMM Tin Morning Brief] Futures: The most-traded SHFE tin contract (SN2510) dipped slightly during the night session before fluctuating and rebounding, closing at 272,100 yuan/mt, up 0.27% from the previous trading day.

[SMM Tin Futures Review: Marginal Improvement in Macro Sentiment and Continued Supply-Side Constraints SHFE Tin Prices Showed a Slight Rebound Overall] On September 11, 2025, the most-traded SHFE tin contract 2510 closed at 271,260 yuan/mt in the afternoon, up 1,780 yuan, or 0.66%, from the previous trading day. The intraday trading range was between 270,430 yuan/mt and 272,680 yuan/mt, showing a pattern of fluctuation at highs. Meanwhile, LME tin closed at $34,635/mt, up 1.76%, with a trading volume of 407 lots and a slight decrease in open interest. The slight rebound in tin prices that day was mainly driven by a marginal improvement in macro sentiment and continued supply-side constraints. The US August PPI YoY growth rate unexpectedly slowed to 2.6%, while the core PPI fell 0.1% MoM. This data significantly weakened the US dollar index and strengthened market expectations for a US Fed interest rate cut in September, thereby providing a rebound momentum for US dollar-denominated base metals. However, overall market sentiment remained cautious, as investors closely watched the US CPI data to be released in the evening for clearer policy signals.

[SMM Tin Midday Review: Market Closely Watches US CPI Data to Be Released Tonight; SHFE Tin Maintains Fluctuating Trend at Midday] At midday on September 11, 2025, the most-traded SHFE tin 2510 contract closed at 271,000 yuan/mt, up 1,520 yuan, or 0.56%, from the previous trading day. The trading range during the session was between 270,430 yuan/mt and 272,680 yuan/mt, showing a trend of fluctuating at highs.

Mexico's Minister of Economy stated that they are seeking to raise tariff rates on Asian-made cars to as high as 50%. Driven by macro sentiment, SHFE tin prices saw a slight increase. [SMM Tin Morning Brief] Futures: The most-traded SHFE tin contract (SN2510) experienced a slight rise during the night session and maintained a high-level consolidation, closing at 271,900 yuan/mt, up 0.93% from the previous trading day.

[SMM Tin Midday Review: Tug-of-War Between Sellers and Buyers Intertwined With Macro Caution, SHFE Tin Fluctuates Rangebound in Morning Session] On the afternoon of September 10, the most-traded SHFE tin 2510 contract opened lower at 269,080 yuan/mt and maintained a rangebound fluctuation pattern during the session, closing at 270,370 yuan/mt by midday, up 580 yuan/mt (0.21%) from the previous trading day. The domestic market exhibited a tug-of-war between "strong supply constraints" and "weak actual demand," with the price fluctuation range narrowing and trading activity showing slight caution. Meanwhile, LME tin futures remained under pressure overnight, temporarily quoted at $34,275/mt, up $240 (0.71%). The inventory rebound and narrowing spot premiums suggested a slight easing of short-term supply pressure overseas.

Tunisia Aims to Strengthen Cooperation With China's Automotive Industry SHFE Tin Prices Fluctuate at Lows [SMM Tin Morning Brief] The most-traded SHFE tin 2510 contract opened slightly lower in the night session and maintained a sideways trend at lows, closing at 269,000 yuan/mt, down 0.28% from the previous trading day.

[SMM Tin Midday Review: SHFE Tin Fluctuates Around 270,000 Yuan/mt Mark Amid Mixed Bullish and Bearish Factors Awaiting Direction] On the midday of September 9, 2025, the most-traded SHFE tin contract (SN2510) fluctuated around the 270,000 yuan/mt mark, briefly dipping during the session but finding temporary support, ultimately settling near 269,690 yuan/mt by the midday close, down 0.52% from the previous trading day's settlement price.

During the night session, SHFE tin prices experienced a slight decline before stabilizing at low levels with sideways movement. Downstream enterprises showed limited willingness to actively restock. [SMM Tin Morning Brief] Futures: The most-traded SHFE tin 2510 contract edged lower during the night session and then consolidated at low levels, closing at 269,600 yuan/mt, down 0.54% from the previous trading day.

[SMM Tin Futures Review: LME Tin Futures Prices Show Relative Resilience While SHFE Tin Prices Fluctuate Downward Overall] On September 8, 2025, the most-traded SHFE tin SN2510 contract rebounded slightly in the afternoon session, closing at 270,700 yuan/mt with a daily decline of 0.57%. During the night session, the contract opened slightly higher but subsequently plunged sharply, settling at 269,750 yuan/mt, down 0.92% from the previous trading day.