[SMM Tin Midday Review: Supply and demand remain at a stalemate, with the most-traded SHFE tin contract (SN2508) closing slightly higher by 0.30% in the midday session, awaiting macro guidance] The most-traded SHFE tin contract (SN2508) closed at 264,520 yuan/mt in the midday session, up slightly by 0.3%. The intraday fluctuation range was 262,680-264,700 yuan/mt, with the amplitude narrowing to 0.95%, indicating sluggish market trading. Trading volume stood at 46,200 lots, while open interest was 23,500 lots (a decrease of 950 lots from the previous day), reflecting strong wait-and-see sentiment among investors.

[SMM's Brief Review of SHFE Tin Futures: Weak Supply and Demand Push SHFE Tin Down Over 1%, Awaiting Breakthrough Signals Amid Macroeconomic Gloom] The closing price of the most-traded SHFE tin contract (SN2508): 263,240 yuan/mt, with a decline of 1.12%; intraday fluctuations: a high of 266,150 yuan/mt and a low of 261,510 yuan/mt, with a settlement price of 263,730 yuan/mt; trading volume and open interest: trading volume of 90,649 lots, open interest of 24,450 lots, a decrease of 754 lots from the previous day.

[SMM Tin Midday Review: SHFE tin weakens under pressure, awaiting macro guidance amid weak supply and demand] The most-traded SHFE tin contract (2508): opened at 265,810 yuan/mt today, closed at 263,240 yuan/mt at midday, down 1.12%. The intraday fluctuation range was 263,000–266,000 yuan/mt, with the price center slightly shifting downward, reflecting a rise in market risk-aversion sentiment. LME tin continuous contract: temporarily reported at $33,350/mt, down slightly by 0.63%; fluctuating downward in the Asian session. Inventory dynamics: Total LME tin inventory fell to 2,095 mt, with low inventory providing bottom support for prices.

[SMM SHFE Tin Brief Review: Fluctuating Pattern of SHFE Tin amid Supply Bottlenecks and Weak Demand] On July 14, 2025, the most-traded SHFE tin contract (SN2508) exhibited a trend of fluctuating rangebound and upward, closing at 266,720 yuan/mt, up 0.41% from the previous trading day. The intraday price fluctuation range remained between 265,000-268,000 yuan/mt, with a trading volume reaching 21.207 billion yuan. Over the past five trading days, it has accumulated a gain of 1.21%, continuing the recent trend of mild rebound. From the market trading situation, after the price rebounded to above 266,000 yuan/mt, downstream purchase willingness significantly weakened, with most adopting a strategy of "small batches, multiple orders" for just-in-time restocking. Smelters continued to hold prices and limit sales, but actual transactions were constrained. In terms of brand premiums, the market showed a differentiated pattern: small-brand tin was priced at parity to a premium of 400 yuan/mt against the August contract, while Yunnan-branded tin commanded a premium of 400-800 yuan/mt. The brand premium effect still existed but had narrowed compared to the previous period.