[SMM Tin Midday Review: If US Dollar Index Continues to Strengthen, Tin Prices May Remain in the Doldrums] On the midday of September 19, 2025, the most-traded SHFE tin 2510 futures contract opened lower and extended losses, remaining in the doldrums. The contract opened at 268,270 yuan/mt, dipped during the session, and was tentatively reported at 268,840 yuan/mt by midday, down 1,400 yuan from the previous trading day's settlement price. Domestic market sentiment was cautious, with trading activity primarily driven by rigid demand, and spot market transactions were lukewarm. Overnight, tin prices on the London Metal Exchange (LME) were significantly under pressure, with tin futures closing at $33,750/mt, down $640 from the previous day, a decline of 1.86%. Trading volume was 1,215 lots, and open interest decreased by 2.09 million lots, indicating that some funds chose to exit.

Nvidia Invests $5 Billion in Intel and Reaches Chip Cooperation Agreement Yesterday's Spot Market Saw Relatively Active Trading [SMM Tin Morning Brief] Futures: The Most-Traded SHFE Tin Contract (SN2510) Maintained a Fluctuating Downward Trend During the Night Session, Closing at 267,800 Yuan/mt, Down Slightly by 0.89% Compared to the Previous Trading Day.

[SMM Tin Midday Review: LME Tin Prices Fluctuate Lower, Hawkish Macro Expectations and Weak Supply-Demand Dynamics Dominate Market] Short term, SHFE tin prices face dual pressure from macro sentiment and weak fundamentals. If the US dollar index continues to strengthen and downstream restocking demand shows no improvement, prices may further test the support level of 268,000 yuan/mt. For LME tin, monitor the effectiveness of the $34,000 threshold; production resumptions in Myanmar and the recovery pace of the semiconductor industry will be key variables for directional choices ahead.

On Wednesday, September 17, the World Bureau of Metal Statistics (WBMS) released data on its website showing the global production and consumption of refined nickel, refined lead, primary aluminum and refined tin, with details below.

The US Fed announced a 25-basis-point interest rate cut at its September meeting. [SMM Tin Morning Brief] Futures: The most-traded SHFE tin contract (SN2510) opened slightly lower in the night session and continued to fluctuate at lows, closing at 271,000 yuan/mt, down 0.73% from the previous trading day.

[SMM Tin Futures Review: SHFE Tin Fluctuates Rangebound Awaiting Fed Decision; LME Tin Adjusts Under Pressure Amid Weak Supply and Demand] On September 17, 2025, the most-traded SHFE tin 2510 contract closed the afternoon session at 272,540 yuan/mt, down 200 yuan or 0.07% from the previous day. The intraday price fluctuated between 271,370 and 274,530 yuan/mt, indicating cautious market sentiment ahead of the US Fed meeting. Meanwhile, LME tin was quoted at $34,650/mt, down $30 or 0.09%, with the daily trading range narrowing to $215, reflecting a wait-and-see stance in the international market.

[SMM Tin Midday Review: Interest Rate Cut Expectations Continue to Ferment, SHFE Tin Price Expected to Maintain Fluctuating Trend] On the midday of September 17, 2025, the most-traded SHFE tin 2510 contract closed at 272,430 yuan/mt, dropping slightly by 310 yuan, or 0.11%, from the previous day. During the morning trading session, the price fluctuated rangebound around the 272,000 yuan/mt mark, hitting a high of 274,530 yuan/mt and a low of 271,370 yuan/mt, showing an overall high-level consolidation trend. The market trading atmosphere was cautious, with trading volume shrinking, reflecting investors' tendency to wait and see ahead of the US Fed's interest rate decision.

The US Department of Commerce Imposes Tariffs on More Imported Auto Parts SHFE Tin Prices Continue to Hover Around 273,000 Yuan/mt [SMM Tin Morning Brief] Futures: The most-traded SHFE tin contract (SN2510) opened slightly higher and fluctuated with a pullback during the night session, closing at 272,900 yuan/mt, up 0.07% slightly from the previous trading day.

[SMM Tin Midday Review: Macro Perspective Creates Two-Way Disturbance to Tin Prices, SHFE Tin Prices Fluctuate Around 273,000 Yuan/mt] On the midday of September 16, 2025, the price of the most-traded SHFE tin futures contract showed a fluctuating pattern. The opening price was 273,030 yuan/mt, and during the morning trading session, it fluctuated around the key level of 273,000 yuan/mt, slightly weaker compared to the previous trading day's closing price of 273,960 yuan/mt. The spot market premium remained around 200 yuan/mt, indicating relative strength in spot prices. SHFE tin inventory increased slightly to around 7,402 mt, while LME inventory continued to rise to 2,645 mt.

US to Reduce Import Tariffs on Japanese Cars to 15% SHFE Tin Prices Open Lower and Stabilize in Night Session [SMM Tin Morning Brief] Futures: The most-traded SHFE tin contract (SN2510) opened lower and maintained a low-level consolidation during the night session, closing at 272,900 yuan/mt, down 0.33% from the previous trading day.