US and Japan reach auto tariff agreement; tin prices may maintain fluctuating trend [SMM Tin Morning Meeting Summary]

[SMM Morning Meeting Summary: US and Japan Reach Auto Tariff Agreement, Tin Prices Expected to Maintain Fluctuating Trend] Last week, in terms of international macroeconomic developments, the US and Japan reached an auto tariff agreement, setting the tariff on imported Japanese cars at 15%. Additionally, US Treasury Secretary Bessent stated that August 1st is a "relatively firm deadline" for all countries. Domestically, the overall supply of tin ore in the market is tightening, with reduced supply from major producing areas such as Yunnan. Some smelters may maintain production shutdowns for maintenance or slightly cut production. On the demand side, after the installation rush in the PV industry ended, orders declined. The electronics industry entered the off-season, coupled with high tin prices, leading to strong wait-and-see sentiment among end-users, who only maintained orders for immediate needs. Demand in other sectors such as tinplate and chemicals remained stable, without any unexpected growth. The spot market saw sluggish transactions, with most traders only closing single-digit deals. Overall, the tight supply and weak demand have led to tin prices fluctuating upward, and it is expected that tin prices will continue to maintain a fluctuating trend this week. It is recommended that investors pay close attention to changes in international macroeconomic policies and domestic supply and demand conditions, and operate cautiously. ...