Overview:Tin market saw a night session rebound today, driven by easing Middle East tensions that sent US oil down 4.28% to 91.97 and Brent down 3.32% to 95.99, cooling reflationary pressure, though the US dollar index at 100.43 and continued hawkish remarks from US Fed officials such as Musalem weighed on high-beta assets. Meanwhile, Meta released its AI agent Muse, and the Philadelphia Semiconductor Index rose about 2.6% in the night session, strengthening further after hours. Expectations for AI server and advanced packaging solder demand recovered. In Myanmar's Wa State, production resumptions were capped at around 50% due to the rainy season and drainage-related grade constraints, while Indonesia's quota recovery remained slow, leaving the ore supply hard constraint intact. By the night session close, the most-traded SHFE tin SN2610 contract stood at 410,090 yuan/mt, up 1,590 or 0.39%, with an open of 412,000, a high of 412,660, a low of 408,900, and a previous close of 408,500. The session formed a narrow recovery pattern after opening higher at 412,000, pulling back to 408,900, and reclaiming 410,000. Support for the day sits at 408,900, extending from the night low, while 412,000, the night high, turns into resistance, and 418,000 marks strong resistance at the 40-day moving average and a previous dense trading zone.
Trader: Guangdong Jushen offers YT brand at October contract +800.
Trader: Jinchuan Qirun: Shanghai offers Indonesian imported tin at October contract -400, YUNHENG at October contract +900. There have been almost no inquiries or orders placed in the past two days, and it feels like pre-holiday restocking may not happen after all. Overall, clients' orders this year have not been as good as in previous years, and the final pre-holiday restocking volume is expected to be smaller than before, especially since everyone restocked heavily last week.
Trader: Shanghai offers YT brand at October contract +1000, YUNHENG brand at October contract +1000, Kaiyuan brand at October contract +600; Guangdong offers YT brand at October contract +900, YUNHENG brand at October contract +900.
Trader: Imported tin overall adjusted back to the range of -300 to -800
Trader: Shanghai CMST offers YUNXIANG brand at October contract +1000; Shenzhen South China Kaiyuan brand at October contract +1000.
Trader: Today's quote for minor-brand tin ingot is October contract +1000. Pre-holiday restocking has basically ended, unless low prices emerge
Upstream: Today's quote is October contract +500
Upstream: Today's quote is 413,000 yuan/mt, selling at a premium
Upstream: Today's quote is 425,000 yuan/mt. Feedback indicates no deals were done today, and downstream buyers are starting to balk at high prices
Upstream: Today's quote is 413,500 yuan/mt, selling at a small premium, with few downstream purchases
Trader: YUNXIANG brand, Guochu Tianwei, October contract +1800
MSP brand, Cao'an, October contract +500
PSS brand, Wuxi CMST, October contract +400. Clients have had almost no inquiries today, and the market is sluggish