[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.

[SMM Tin Midday Review: Disagreements Between Bulls and Bears Intensify at the 260,000 Mark, SHFE Tin Prices Fluctuate Considerably] The most-traded SHFE tin contract (SN2506) opened at 262,500 yuan/mt, slightly higher than the previous trading day's closing price of 261,480 yuan/mt. The price fluctuated and consolidated during the session. In the morning, non-ferrous metals were generally under pressure, and the most-traded SHFE tin contract closed at 259,980 yuan/mt at midday, down slightly by 0.26% intraday. Trading volume and open interest decreased slightly, with a strong wait-and-see sentiment prevailing in the market.

This week, the ferrous metals series was in the doldrums, with the average price of steel dropping slightly WoW. In terms of news, the People's Bank of China and two other departments held a press conference on the morning of the 7th to introduce the "package of financial policies to support market stability and stabilize expectations," including multiple favorable policies such as a 0.5 percentage point reduction in the reserve requirement ratio (RRR), an expected injection of approximately 1 trillion yuan in long-term liquidity into the market, and a 0.25 percentage point reduction in the interest rate for individual housing provident fund loans. Market sentiment was somewhat boosted, but after a brief surge, steel futures prices weakened again...