This week, the ferrous metals series market followed a similar trend to that of previous weeks. The night session on Wednesday saw a strong upward rally, with finished steel breaking through previous resistance levels and continuing to fill the gap from early April. Prices experienced a correction at the beginning of the week. In the latter half of the week, market rumors emerged about production restrictions ranging from 30% to 50% in the coking industry in the Wuhai region. Additionally, Indonesia planned to impose export tariffs, and there was a second round of coke price increase proposals scheduled for next week. Coking coal and coke continued to lead the gains in the ferrous metals series market. Meanwhile, amid the off-season, the continuous inventory reduction of finished steel provided support for the market...

[SMM Tin Midday Review: The Most-Traded SHFE Tin Contract Leads the Gains Amid Supply-Demand Imbalance and Macro Disturbances] As of the midday session on July 18, the most-traded SHFE tin contract (SN2508) closed at 264,930 yuan/mt, surging by 3,190 yuan (a 1.55% increase) from the previous day. Trading volume exceeded 50,000 lots, reaching a two-week high, with significant capital inflows. The LME tin 3-month contract also strengthened, temporarily closing at $33,195/mt (a 0.38% increase), touching a high of $33,300 during the session, supported by a weaker US dollar and supply concerns.

[SMM Commentary on SHFE Tin Futures: The most-traded SHFE tin contract (SN2508) posts three consecutive negative sessions, dipping to RMB 261,700. Tin prices are under pressure amid macroeconomic disruptions and a weak supply-demand dynamic.] The most-traded SHFE tin contract (SN2508): Closing price: RMB 261,610/mt, down 0.71% (or RMB 1,950) from the previous day. Intraday fluctuations: Opened lower at RMB 262,180/mt, dipped to a low of RMB 260,780/mt, and rebounded slightly in the tail end but remained under significant pressure. Weekly trend: Three consecutive days of decline, with a cumulative drop exceeding 2.5%, approaching the support level of the 60-day moving average.

[SMM Tin Midday Review: SHFE Tin Pressured Amid Supply Chain Disruptions, Unable to Offset Off-Season Demand Suppression] The most-traded SHFE tin contract (SN2508): The most-traded SHFE tin contract (2508) closed at 261,740 yuan/mt in the midday session, down 0.66%. The intraday trading range was 260,640–262,800 yuan/mt, with sluggish trading and a decrease in open interest. LME tin (3-month): Currently quoted at $32,875/mt, down 0.35% on the day; it continued to decline to $32,799/mt (down 1.48%) in the Asian session today, hitting a new low since July.

[SMM Commentary on SHFE Tin Futures: Off-season demand suppresses price elasticity; SHFE tin awaits substantive release of Myanmar ore] Closing price of the most-traded SHFE tin contract (SN2508): 263,960 yuan/mt, up slightly by 0.09%, with an intraday amplitude of 1.75% (261,510–266,150 yuan/mt). Daily line characteristics: Under pressure in the morning session, it rebounded slightly in the afternoon session supported by the low inventory of LME, but still remained under pressure at the key resistance level of 265,000 yuan/mt.