The ferrous metals series rebounded slightly this week. On the news front, at the beginning of the week, the PBOC kept the one-year and five-year loan prime rates (LPR) unchanged at 3.1% and 3.6%, respectively. The Korea Customs Service stated on Monday that an increasing number of companies were attempting to disguise foreign products as Korean exports, with most of these products originating from China, to evade the comprehensive tariffs imposed by US President Trump. The Korea Customs Service has established a special task force to prevent illegal export activities. US President Trump delivered a public speech on Tuesday, April 22, acknowledging that the current tariffs on Chinese exports to the US were excessively high and anticipated a significant reduction in rates. This marked a softening of Trump's stance on his signature tariff policy, alleviating market pessimism over the tariff war...

SMM Tin Midday Review: SHFE Tin Prices Maintain High-Level Consolidation, Spot Market Transactions Dominated by Small Orders for Immediate Needs. As of midday on April 25, 2025, the most-traded SHFE tin 2505 contract closed at 262,830 yuan/mt, up 1.14% from the previous day's settlement price. After the morning session opened, prices remained high due to expectations of easing Sino-US tariffs. Intraday trading volume reached approximately 60,200 lots, with open interest decreasing by 4,542 lots compared to the previous day.