Spot market trading weakened, while SHFE tin prices maintained a fluctuating upward trend [SMM Tin Morning News]

Published: Jun 9, 2025 08:56

Save

Spot market trading weakened, while SHFE tin prices maintained a fluctuating upward trend [SMM Tin Morning News] Macro: (1) Short-term "suspension of applications" for home appliance subsidies in multiple regions, mainly due to activity upgrades or ongoing research and formulation of policies for the next phase (bearish ★). (2) According to preliminary statistics from the China Passenger Car Association, from May 1-31, retail sales of passenger vehicles in the national market reached 1.93 million units, up 13% YoY from May last year and 10% MoM (bullish ★). (3) As consumers pursue higher-level display effects, a new round of market competition has emerged. It is estimated that OLED monitor shipments will increase by 80.6% YoY in 2025, with the penetration rate in the overall monitor market rising to 2%, and potentially reaching 5% by 2028. (4) Tariffs - ① Japanese media: The US has shown flexibility in reducing additional reciprocal tariffs on Japan. ② Sources: US and Indian negotiators may finalise tariff reductions and market access issues, reaching a provisional agreement. ③ Trump: A good trade agreement will be reached with Germany (neutral).

SMM Tin Morning News on June 9, 2025:

Futures Market: The most-traded SHFE tin contract (SN2507) maintained a volatile trend, closing near 263,000 yuan/mt.

Macro: (1) Short-term "suspension of applications" for home appliance subsidies in multiple regions, mainly due to activity upgrades or ongoing policy research and formulation for the next phase (bearish ★). (2) According to preliminary statistics from the China Passenger Car Association, from May 1 to 31, nationwide passenger vehicle retail sales reached 1.93 million units, up 13% YoY and 10% MoM (bullish ★). (3) As consumers pursue higher-level display effects, a new round of market competition has emerged. It is estimated that OLED monitor shipments will increase by 80.6% YoY in 2025, with the penetration rate in the overall monitor market rising to 2%, and potentially reaching 5% by 2028. (4) Tariffs: ① Japanese media: The US has shown flexibility in reducing additional reciprocal tariffs on Japan. ② Sources: US and Indian negotiators may finalise tariff reductions and market access issues, reaching a provisional agreement. ③ Trump: A good trade agreement will be reached with Germany (neutral).

Fundamentals: (1) Supply-side disruptions: Overall tin ore supply in major producing regions such as Yunnan has tightened. As June approaches, some smelters are considering halting production for maintenance or slightly cutting production (bullish ★). (2) Demand side: Recently, as tin prices have returned to the 260,000 yuan threshold, orders from most downstream enterprises have decreased, and purchase willingness has weakened (bullish ★).

Spot Market: Trading in the spot market has weakened. Most traders reported sluggish trading last Friday, with almost no orders placed, and low purchase willingness from downstream and end-user clients. Some trading enterprises have already exited the market with their previous inventory and are planning to restock.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

23 hours ago

Data: SHFE, DCE market movement (Feb 06)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 06 Feb , 2026

23 hours ago

Feb 6, 2026 11:59

The Most-Traded SHFE Tin Contract Opened Lower and Then Traded Stronger, Spot Market Recovers Amid Downtrend [SMM Tin Midday Review]

[SMM Tin Midday Review: The Most-Traded SHFE Tin Contract Opened Lower and Then Traded Stronger, Spot Market Recovers Amid Downtrend]

Feb 6, 2026 11:59

Feb 6, 2026 08:49

The most-traded SHFE tin contract fluctuated rangebound during the night session, with downstream enterprises mostly following up with small-lot transactions. [SMM Tin Morning Brief]

[SMM Tin Morning Brief: The Most-Traded SHFE Tin Contract Fluctuated Rangebound During the Night Session, Downstream Enterprises Mostly Followed Up with Small-Lot Transactions]

Feb 6, 2026 08:49