[SMM Tin Midday Review: Limited Short-Term Supply Increase in Domestic Smelting Sector, SHFE Tin Prices Fluctuate at Highs, Suppressing Spot Cargo Transactions] The most-traded SHFE tin contract (SN2506) continued to fluctuate at highs in the morning session today. It opened at 266,520 yuan/mt, with narrowed intraday fluctuations, and closed around 265,250 yuan/mt at midday, up slightly by 0.23% from the previous trading day. Open interest decreased slightly to 29,600 lots, with neutral to weak market trading activity. The battle between bulls and bears intensified near the 265,000 yuan/mt threshold.

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[SMM Tin Futures Brief Commentary: Spot Market Transactions Fluctuate Around 264,000 Yuan/mt, SHFE Tin Prices Show a Sideways Trend at Highs] Today, the most-traded SHFE tin contract (SN2506) exhibited a fluctuating pattern at highs. During the night session, it surged to 266,100 yuan/mt, driven by macro sentiment, before consolidating sideways. It closed at 265,770 yuan/mt during the daytime session, up 0.92% from the previous day, with a cumulative five-day increase of 1.74%. Open interest increased slightly to 31,500 lots, maintaining a neutral level of market trading activity. Bullish factors: The US April unadjusted CPI year-on-year rate unexpectedly fell to 2.3% (a more than four-year low), coupled with signals from US Fed officials that "interest rate cuts are still possible this year," causing the US dollar index to pull back and boosting risk appetite in the metal market. The phased implementation of the China-US tariff agreement has led to an expected marginal improvement in export demand for electronics, new energy, and other sectors, supporting the risk premium of tin prices...

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"...