According to the SMM survey, as of May 14, the operating rate of blast furnaces at 242 steel mills surveyed by SMM was 88.63%, down 0.33 percentage point MoM. The capacity utilisation rate of blast furnaces was 90.45%, down 0.65 percentage point MoM. The daily average pig iron production of the sampled steel mills was 2.4403 million mt, down 17,600 mt MoM.

[SMM Tin Midday Review: The most-traded SHFE tin contract traded sideways at a high level, with the spot market continuing its sluggish trend] Today, the most-traded SHFE tin contract (SN2506) traded sideways at a high level. It opened at 265,000 yuan/mt in the morning session, maintaining its high-level sideways trend, and closed at 264,830 yuan/mt at midday, up 0.57% from yesterday. Open interest decreased to 30,600 lots.

[SMM Commentary on SHFE Tin Futures: Macro Sentiment Boosts Prices Initially, Fundamentals Suppress Volatility; SHFE Tin Prices Jump Initially and Then Pull Back] On May 13, the most-traded SHFE tin contract (SN2506) closed at 262,070 yuan/mt in the daytime session, up 0.37% from the previous trading day, with a turnover of 25.55 billion yuan. Total open interest reached 30,700 lots. Prices fluctuated sharply during the day, exhibiting a pattern of "macro sentiment boosting prices initially, while fundamentals suppressing volatility"...

[SMM Tin Midday Review: Alphamin's Production Resumptions Signal End of Tin Market's Most Severe Supply Shock Phase, SHFE Tin Prices Pull Back] Today, the most-traded SHFE tin contract (SN2506) exhibited a volatile and pulling-back trend. It opened higher in the morning at 264,750 yuan/mt (up 1,550 yuan/mt from yesterday's close), then pulled back amid volatility, with the price fluctuating around the 263,000 yuan/mt mark during the session. It closed at 261,030 yuan/mt at midday, down slightly by 0.03% intraday. Total open interest decreased to around 30,500 lots, as some bulls took profits and exited the market.