The US Treasury Secretary said that the negotiations between the US and China on suspending the imposition of additional tariffs on some goods were progressing well, and tin prices may hover at highs [SMM Tin Morning Meeting Summary]

[SMM Morning Meeting Summary: US Treasury Secretary Says Negotiations on Suspending Some Tariffs Between US and China Are Progressing Well, Tin Prices Expected to Hover at Highs] Last week, in terms of international macroeconomic developments, the US Treasury Secretary stated that negotiations on suspending some tariffs between the US and China were progressing well, alleviating market concerns about trade tensions. Additionally, the Vice Chairman of the Thai Chamber of Commerce indicated that Thailand would propose exempting 90% of US goods from tariffs, further boosting market confidence. Domestically, the Ministry of Finance adjusted the consumption tax policy for super luxury cars, imposing a consumption tax on passenger cars and medium and light commercial buses with a retail price of 900,000 yuan or more per unit. This move may affect consumer demand in related industries. From the overall perspective of the tin ore market, the supply-demand relationship remains tight. In terms of supply, tin ore supplies in major producing areas such as Yunnan are tightening. Some smelters may continue to halt production for maintenance or slightly cut production in July, causing continuous disruptions to the supply side. In terms of demand, after the installation rush in the PV industry ended, orders for PV tin strips in east China declined. The electronics industry entered the off-season, and end-users had a strong wait-and-see sentiment, with orders only meeting immediate needs. Demand in other sectors such as tinplate and chemicals remained stable, without showing unexpected growth. In the spot market, despite price fluctuations, downstream purchase willingness remained low, with most buyers adopting a "small-batch, multi-batch" strategy to restock based on immediate needs. The overall market remained sluggish. Overall, it is expected that tin prices will maintain a fluctuating trend next week. Investors should pay attention to domestic and overseas market dynamics and policy changes, and operate cautiously...