锡：价格走弱

Report Summary 1. Industry Investment Rating No relevant information provided. 2. Core View The price of tin is weakening, with the trend strength of tin at 0, indicating a neutral outlook [1][4]. 3. Summary by Related Catalogs 3.1 Tin Fundamental Data - Futures Prices: The closing price of the Shanghai Tin main contract yesterday was 263,520, with a daily decline of 1.40%. The night - session closing price was 263,660, with a decline of 0.76%. The LME Tin 3M electronic disk closed at 33,260 yesterday, with a decline of 1.51% [2]. - Trading Volume and Open Interest: The trading volume of the Shanghai Tin main contract yesterday was 84,417, an increase of 976 from the previous day. The open interest was 28,262, a decrease of 2,457. The trading volume of the LME Tin 3M electronic disk was 180, a decrease of 9, and the open interest was 13,988, an increase of 53 [2]. - Futures Inventory: The inventory of Shanghai Tin was 6,868, an increase of 61. The inventory of LME Tin was 2,085, a decrease of 25. The注销仓单 ratio of LME Tin was 6.57%, a decrease of 0.38% [2]. - Spot Prices: The SMM 1 tin ingot price yesterday was 266,800, a decrease of 500 from the previous day. The Yangtze River Non - ferrous 1 tin average price was 267,100, a decrease of 800 [2]. - Price Spreads: The LME Tin (spot/three - month) spread was 8, a decrease of 14. The spread between the near - month contract and the consecutive first contract was 67,650, unchanged. The spread between the spot and the futures main contract was - 150, an increase of 370 [2]. - Industrial Chain Prices: The price of 40% tin concentrate in Yunnan was 254,800, a decrease of 500. The price of 60% tin concentrate in Guangxi was 258,800, a decrease of 500. The price of 63A solder bar was 180,750, a decrease of 1,000, and the price of 60A solder bar was 173,250, a decrease of 1,000 [2]. 3.2 Macro and Industry News - The People's Bank of China increased its gold holdings by 70,000 ounces in June, continuing to increase holdings for 8 consecutive months with a recovery in the pace [2][3]. - Trump's first wave of tax letters targets 14 countries including Japan and South Korea, with tax rates ranging from 25% to 40%, effective on August 1. The EU may be close to an agreement [2][3]. - Tesla once tumbled 7.6%. Amid continuous sales decline, Musk's "American Party" is involved in a political whirlpool [2][3]. - CoreWeave spent $9 billion to acquire Core Scientific to expand its AI computing power map and increase investment in AI infrastructure [2][3]. - OpenAI's equity compensation accounts for 119% of its revenue, paying a high price to retain talent. An Apple executive in charge of AI models will switch to Meta [2][3].