[SMM Tin Midday Review: SHFE Tin Under Pressure in Morning Session, Awaiting Non-Farm Payrolls Data Guidance] At midday on September 5, 2025, the most-traded SHFE tin 2510 contract remained under pressure, closing at 271,930 yuan/mt by the lunch break, down 870 yuan (0.32%) from the previous settlement price. The futures moved downwards after a higher opening, initially quoted at 272,300 yuan/mt but struggling to rise thereafter, remaining in the doldrums. Overnight, LME tin fell 0.56% to $34,425/mt with a trading volume of 514 lots, while open interest dropped by 2.25 million to 211.7 million lots, reflecting strong wait-and-see sentiment ahead of key data. LME tin inventories continued rising, reporting 2,195 mt on September 4 (up 30 mt from the prior day), exerting slight pressure on prices. Macro perspective, markets focused on the upcoming US non-farm payrolls data, with August ADP employment adding 54,000 (far below expectations of 65,000), reinforcing expectations for US Fed interest rate cuts in September, though a US dollar rebound weighed on risk assets.

Trump announced plans to impose tariffs on semiconductor imports "soon." The most-traded SHFE tin contract (SN2510) dropped back slightly during the night session after briefly climbing to 273,000 yuan/mt, then fluctuated downward to close at 271,200 yuan/mt, down 0.59% from the previous trading day. [SMM Tin Morning Brief] Futures: The most-traded SHFE tin contract (SN2510) pulled back slightly.

[SMM Tin Midday Review: US Dollar Index Shows Recent Strength, SHFE Tin Prices Fluctuate Downward Slightly] During the midday session on September 4, 2025, the most-traded SHFE tin 2510 contract exhibited a downward fluctuation pattern. The contract opened lower at 272,830 yuan/mt, down 280 points from the previous day's settlement price. It briefly rebounded to around 274,100 yuan/mt during the session but lacked sufficient upward momentum, generally fluctuating near the 273,000 yuan/mt pivot level. Market trading sentiment turned cautious, with both trading volume and open interest showing contraction.

The US Fed will hold a payment innovation conference on October 21. SHFE tin prices maintained high-range consolidation [SMM Tin Morning Brief] Futures: The most-traded SHFE tin 2510 contract edged higher to 274,000 yuan/mt during the night session, then maintained a fluctuating trend, closing at 273,600 yuan/mt, up 0.21% from the previous trading day.

[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.