沪铜早间小幅高开，日内持续偏强震荡，收盘上涨0【5月21日SHFE市场收盘评论】

Group 1 - The core viewpoint indicates that the tin market is experiencing a tug-of-war between current supply tightness and future supply expectations, limiting upward price movement [1] - The main supply issue is characterized by a tight domestic tin mining situation, with smelting plant operating rates remaining low at 56.85% in key provinces [1] - Demand is showing signs of weakness, particularly among small and medium enterprises, with pessimistic expectations for future demand due to tariffs and semiconductor cycles [1] Group 2 - Overall consumption lacks momentum, but basic consumption remains stable, with some recovery in exports of terminal goods [2] - The domestic tin supply remains tight, with expectations for increased imports due to overseas restarts [2] - The macroeconomic impact is diminishing, and the fundamental market lacks strong drivers, suggesting that short-term tin prices may experience fluctuations and adjustments [2]