[SMM Tin Midday Review: Trump May Announce a Trade Deal Between the US and the UK on Thursday; SHFE Tin Prices Fluctuate Upward] The most-traded SHFE tin contract (SN2506) fluctuated upward today. In the morning session, it continued to rise, buoyed by news that US President Trump was expected to announce a trade deal between the US and the UK on Thursday. It ultimately closed at 263,000 yuan/mt, up slightly by 0.42% from the previous trading day. Trading volume and open interest decreased slightly by 1,443 lots, with total open interest reaching 30,500 lots.

[SMM Tin Futures Brief Commentary: SHFE tin prices rose slightly, buoyed by expectations of RRR cuts and interest rate cuts by the PBOC and US-China economic and trade talks] The most-traded SHFE tin contract (SN2506) fluctuated considerably today. In the morning session, it surged to 262,000 yuan/mt, buoyed by expectations of RRR cuts and interest rate cuts by the PBOC and US-China economic and trade talks. However, it pulled back in the afternoon session due to uncertainties surrounding US tariff policies and a stronger US dollar. It ultimately closed at 261,230 yuan/mt, up slightly by 0.35% from the previous trading day. Trading volume and open interest increased slightly, and the tug-of-war between longs and shorts in the market intensified...

【SMM Tin Midday Review: SHFE Tin Prices Rise Slightly, Boosted by Anticipated RRR Cuts and Interest Rate Cuts by the PBOC and Sino-US Economic and Trade Talks】 The most-traded SHFE tin contract (SN2506) fluctuated considerably today. Boosted by anticipated RRR cuts and interest rate cuts by the PBOC and Sino-US economic and trade talks in the morning session, it surged to 262,000 yuan/mt at one point. However, it pulled back in the afternoon session due to uncertainties surrounding the US tariff policy and the strengthening of the US dollar, eventually closing at 261,230 yuan/mt, up slightly by 0.35% from the previous trading day. Trading volume and open interest increased slightly, and the tug-of-war between longs and shorts in the market intensified.​​Policy Support from China​​: The PBOC announced RRR cuts and interest rate cuts today and, in collaboration with financial regulatory authorities, introduced a "package of policies to stabilize the market and expectations," including measures to release liquidity and boost confidence in the capital market, providing short-term support for the valuation of industrial metals. In addition, Q1 GDP growth of 5.4% and the "trade-in" policy have driven a rebound in consumption, providing potential support for the demand for tin solder in downstream applications.

According to the SMM survey, as of May 7, the operating rate of blast furnaces at 242 steel mills surveyed by SMM was 88.96%, up 0.07 percentage point MoM. The capacity utilisation rate of blast furnaces was 91.10%, up 0.16 percentage point MoM. The daily average pig iron production of the sampled steel mills was 2.4579 million mt, up 4,400 mt MoM.

[SMM Tin Midday Review: Demand for Restocking at Lower Prices Released After Labour Day Holiday, SHFE Tin Price Maintained at 260,000 yuan/mt] This morning, the most-traded SHFE tin contract (SN2506) opened at 261,950 yuan/mt, slightly higher than the settlement price of the previous trading day (260,970 yuan/mt). The price fluctuated upward during the session, reaching a high of 264,000 yuan/mt, and closed at 260,560 yuan/mt at midday, with an intraday gain of 0.09%. Open interest increased by 2,529 lots, and market trading sentiment leaned towards caution.