[SMM Tin Midday Review: SHFE Tin Fluctuates at Highs Amid Weak Supply and Demand, Strong Wait-and-See Sentiment Prevails] On the midday of September 3, 2025, the most-traded SHFE tin contract (2510) showed a downward fluctuation pattern. The contract opened at 273,980 yuan/mt, down 380 yuan from the previous day, briefly rebounding above 274,500 yuan/mt during the session but subsequently struggling to rise, ultimately closing at 272,600 yuan/mt with a 0.64% decline. Market trading atmosphere turned noticeably cautious, with both trading volume and open interest showing contraction.

Futures: LME copper opened at $9,873.5/mt overnight, initially touched a low of $9,851/mt at the beginning of the session, then rose all the way and touched a high of $10,015/mt near the end of the session, finally closed at $10,013.5/mt, up 1.4%, with trading volume reaching 26,000 lots and open interest reaching 277,000 lots.

Trump: Emergency Meeting on Tariff Ruling to Be Held Wednesday SHFE Tin Prices Bottom Out and Rebound [SMM Tin Morning Brief] Futures: The most-traded SHFE tin 2510 contract plunged to 272,000 yuan/mt during the night session before bottoming out and gradually rebounding to 274,000 yuan/mt, closing at 274,100 yuan/mt, down 0.08% from the previous trading day.

[SMM Tin Midday Review: Expectations for US Fed Interest Rate Cut in September Continue to Build Up, SHFE Tin Continues to Fluctuate at Highs] On the morning of September 2, 2025, the most-traded SHFE tin 2510 contract opened lower at 273,500 yuan/mt and hovered at highs during the session. By midday, it closed at 274,360 yuan/mt, rising slightly from the previous trading day's settlement price, with intraday volatility reflecting the market's repeated tug-of-war between macro optimism and weak fundamentals. Overnight, LME tin closed at $35,060/mt, up 0.31%, but during today's Asian trading hours, LME e-tin came under pressure and pulled back, with the latest price at $34,895/mt, down 0.47%, indicating cautious trading in overseas markets.

Overnight, LME copper opened and touched a high of $9,916.5/mt before fluctuating downward to close at the day's low of $9,875/mt, down 0.31%, with trading volume at 10,000 lots and open interest at 269,000 lots.

Overall wafer toll processing capacity utilization rate and shipments may strengthen in Q3. SHFE tin prices edged up [SMM Tin Morning Brief] Futures: The most-traded SHFE tin 2510 contract rose slightly to 275,000 yuan/mt during the night session, then maintained a fluctuating trend around 274,000 yuan/mt before closing at 274,300 yuan/mt, up 0.2% from the previous trading day.

[SMM Tin Futures Review: Weak Supply and Demand Persists, Supply Disruptions Remain Core Contradiction in Tin Market] On September 1, 2025, the most-traded SHFE tin 2510 contract remained in the doldrums, with futures under sustained pressure in the afternoon session. It ultimately closed at 273,240 yuan/mt, down 2,570 yuan (0.93%) from the previous trading day. The intraday trading range was 271,540-279,010 yuan/mt, with the settlement price at 273,770 yuan/mt. Trading volume reached 146,445 lots, while open interest declined by 10,315 lots to 35,983 lots, indicating heightened risk-averse sentiment among investors. Meanwhile, LME tin prices also retreated, with the three-month LME tin contract settling at $34,865/mt, down $85 (0.24%). The session's high and low stood at $35,150 and $34,760 respectively, reflecting cautious trading in overseas markets.

[SMM Tin Midday Review: Domestic September-October Peak Season Demand Yet to Materialize, SHFE Tin May Extend Fluctuating Trend] At midday on August 28, 2025, the most-traded SHFE tin 2510 contract settled at 272,540 yuan/mt, up 1,210 yuan (0.45%) from the previous settlement. Prices fluctuated rangebound at elevated levels during the session, moving between 270,800-272,860 yuan/mt, with cautious market sentiment and mildly expanding trading volume. Meanwhile, LME three-month tin maintained strength at $34,560/mt, gaining $50 (0.14%) on the day, while showing initial signs of inventory buildup though absolute levels remained at yearly lows.

Futures: LME copper opened at $9,899/mt on Friday night, initially touched a low of $9,881/mt, then entered sideways movement with prices gradually moving upward, nearing a high of $9,924.5/mt before closing at $9,906/mt, up 0.68%.

SHFE tin prices fell back from highs of 278,500 yuan, likely to remain weak with sideways consolidation [SMM Tin Morning Brief]. Macro: (1) The latest China Automobile Dealers Inventory Alert Index (VIA) released by the China Automobile Dealers Association showed that the August 2025 inventory alert index stood at 57.0%, up 0.8 percentage points YoY but down 0.2 percentage points MoM. With the index remaining above the 50 mark, industry prosperity in the auto distribution sector weakened. (2) Regarding the US Department of Commerce's removal of Intel Semiconductor (Dalian) Co., Ltd., Samsung China Semiconductor Co., Ltd., and SK Hynix Semiconductor (China) Co., Ltd. from the "Validated End-User" authorization list on August 29, a spokesperson for China's Ministry of Commerce stated on the 30th that the US move, driven by self-interest and weaponizing export controls, would significantly disrupt the stability of global semiconductor industry chain and supply chain. China opposes this action and urges the US to immediately correct its wrong practices to safeguard the security and stability of global industrial and supply chains. China will take necessary measures to resolutely protect the legitimate rights and interests of enterprises.