SHFE Tin Prices Fluctuate Rangebound, Spot Market Trading Pace Slows Down [SMM Tin Midday Review]

SHFE Tin Futures Most-Traded Contract Midday Commentary on April 11, 2025 As of midday today (11:30), the most-traded SHFE tin futures contract (SN2505) closed at 255,240 yuan/mt, up 2.73% from the previous settlement price. The intraday high reached 256,200 yuan/mt, while the low touched 251,200 yuan/mt, with an amplitude of 1.94%. In the spot market, traders reported that today's transactions declined compared to yesterday, but overall trading remained relatively active, reflecting a slowdown in spot transactions following the futures rebound. DRC Bisie Tin Mine Resumes Production Alphamin Resources announced that its Bisie tin mine (annual capacity of 17,000 mt, accounting for 6% of global supply) will resume operations this week. The restart of previously suspended capacity due to armed conflict has strengthened expectations, accelerating the squeeze on market risk premiums. Structural Recovery on the Demand Side New Energy and AI Demand Boost Global AI server shipments surged, boosting orders for high-precision solder, with some semiconductor companies restarting Q2 stockpiling plans. Tariff Policy Divergence Effects The US suspended tariff hikes on economies such as the EU, indirectly easing export pressure on Chinese PV modules. However, China still faces a high tariff rate of 125%, limiting the recovery of export-oriented demand.