On April 24, at the CCIE 2025 SMM (20th) Copper Industry Conference & Copper Industry Expo - Copper-Based New Materials High-Quality Development Forum, hosted by SMM Information & Technology Co., Ltd., SMM Metal Trading Center, and Shandong Aisi Information Technology Co., Ltd., Zhang Junbing, Director of the Secondary Copper Business Department of Zhejiang Hailiang Co., Ltd., elaborated on the downstream consumption status of secondary copper in China.

[SMM Tin Midday Review: As Labour Day Holiday Approaches, Downstream Enterprises' Willingness to Restock Intensifies, SHFE Tin Prices Fluctuate Rangebound] As of the midday close today, the most-traded SHFE tin 2505 contract (SN2505) was temporarily quoted at 260,900 yuan/mt, down slightly by 0.5% from yesterday's settlement price. The intraday fluctuation range was 259,340-263,350 yuan/mt. Trading volume and open interest contracted slightly on a MoM basis, with cautious market participation. Policy Easing Expectations: US Treasury Secretary Bessent recently stated that "high tariffs between China and the US are unsustainable," suggesting that both sides may partially ease trade frictions in the coming months. This news has alleviated market concerns about suppressed demand for tin used in PV welding strips (due to the US tariff hike on Southeast Asian solar products), supporting the recovery of tin price sentiment.

[SMM Tin Futures Brief Commentary: Approaching Labour Day Holiday Drives Restocking by Downstream Enterprises, Spot Market Trading Volume Expected to Rise This Week] As of today's close, the most-traded SHFE tin 2505 contract (SN2505) closed at 260,570 yuan/mt, down 0.63% from the previous trading day, with an intraday trading range of 259,680-264,000 yuan/mt and a trading volume of 12.556 billion yuan. Market sentiment remained cautious. Spot Market: Trading activity in the spot market was relatively robust today. As the Labour Day holiday approaches, most downstream and end-user enterprises plan to commence restocking, coupled with a small amount of just-in-time procurement, leading to an increase in spot market trading volume compared to last Friday...