SHFE tin prices fluctuate and rebound; upward momentum for SHFE tin is provided by mine-end disruptions [SMM tin midday review]

SHFE Tin Lunchtime Review on July 10, 2025

​​The most-traded SHFE tin contract (2508): This morning, the contract continued to rebound in a fluctuating manner. It opened at 263,390 yuan/mt, with the intraday low reaching 262,950 yuan/mt. By midday, it closed at 265,620 yuan/mt, up 0.78%, with open interest decreasing by 299 lots, reflecting cautious market trading. Technical analysis: Prices are under pressure from the 5-day moving average (262,000 yuan/mt). The short-term support level is at 260,000 yuan/mt. If prices fall below this level, it may trigger longs' stop-loss orders.

​​LME tin contract (3-month): Overnight, LME tin closed at $33,420/mt (+0.51%). During today's Asian trading session, it fluctuated upward within the range of $33,000-33,500/mt.

​​The US plans to impose tariffs of 20%-50% on eight countries, including Brazil (effective August 1). Although not directly targeting tin, this move exacerbates concerns about global trade friction and dampens risk appetite in the metal market. In June, CPI turned positive YoY, rising by 0.1%, while core CPI increased to 0.7%, signaling a recovery in domestic demand. However, PPI fell by 3.6% YoY, indicating continued pressure on industrial product prices and heightening expectations for policy easing.

​​The most-traded SHFE tin contract: It is expected to continue fluctuating within the range of 262,000-267,000 yuan/mt in the afternoon.