The Bisie Tin Mine to Resume Operations, Coupled with the Impact of US Tariff Policy Implementation, SHFE Tin Prices Record the Largest Intraday Fluctuation in Nearly Two Months [SMM Tin Futures Brief]

April 10, 2025, SHFE Tin Futures Most-Traded Contract Daily Review On April 10, 2025, the most-traded SHFE tin futures contract (SN2505) continued its sideways movement in the doldrums, showing a "bottoming rebound" trend during the day. It closed at 25,200 yuan/mt, down 0.86% from the previous day's settlement price, but rebounded nearly 9.1% from the intraday low of 235,720 yuan/mt, marking the largest intraday amplitude in nearly two months (9.7%). In the morning session, dragged by the overnight LME tin price plunge of 4.68%, SHFE tin opened lower at 251,610 yuan/mt and quickly fell to a phased low of 249,800 yuan/mt. In the afternoon, stimulated by the rebound in US stocks and the pullback in the US dollar index, shorts reduced their positions, pushing the price back above 257,000 yuan/mt. In the spot market, overall spot market transactions were active, with some traders' inventories being cleared out, reflecting the release of restocking demand in the spot market after the futures market's oversold condition. US Tariff Policy Divergence Adjustment: The Trump administration announced a 90-day suspension of "reciprocal tariffs" on 75 economies including the EU, Japan, and South Korea, but China still maintains high tariffs, leading to increased market concerns about the long-term nature of the US-China trade friction. After the policy adjustment, the three major US stock indices surged by 7%-12%. Last night, Alphamin Resources announced that its Bisie tin mine in eastern DRC will resume operations. Previously, due to the approach of non-state armed groups to the mining area, Alphamin suspended operations at the Bisie mine last month. The company has now initiated a "phased resumption" plan, gradually recalling employees and restarting production in stages while closely monitoring the security situation. In the short term, SHFE tin is expected to maintain a sideways movement within the range of 252,000-266,000 yuan/mt.