锡：佤邦洪灾扰动价格

Report Summary 1. Report Date - The report is dated July 24, 2025 [1] 2. Industry Investment Rating - No industry investment rating is provided in the report 3. Core View - The price of tin is affected by the flood in Wa State [1] 4. Summary by Directory 4.1 Fundamental Tracking - Futures Data: The closing price of the Shanghai Tin main contract was 268,540 with a daily increase of 0.01%, and the trading volume was 69,039, an increase of 5,372 from the previous day. The closing price of the LME Tin 3M electronic disk was 34,750 with a daily increase of 2.45%, and the trading volume was 180, a decrease of 9 from the previous day [2] - Inventory Data: The inventory of Shanghai Tin was 6,807, an increase of 16 from the previous day, and the inventory of LME Tin was 1,690, a decrease of 25 from the previous day. The cancellation warrant ratio of LME Tin was 6.57%, a decrease of 0.38% from the previous day [2] - Spot Price Data: The price of SMM 1 tin ingot was 266,300, a decrease of 900 from the previous day, and the average price of Yangtze River Non - ferrous 1 tin was 269,100, an increase of 2,500 from the previous day [2] - Industrial Chain Price Data: The price of 40% tin concentrate in Yunnan was 254,300, a decrease of 900 from the previous day, and the price of 60% tin concentrate in Guangxi was 258,300, a decrease of 900 from the previous day [2] 4.2 Macro and Industry News - China's Ministry of Commerce announced that He Lifeng will go to Sweden to hold economic and trade talks with the US from July 27 to 30 [3] - The media reported that the US and the EU are close to reaching an agreement, and the US will impose a 15% tariff on the EU. The White House responded that it was speculation. The EU plans to impose a 30% tariff on 100 billion euros of US goods [3] - Trump said that the US and Japan reached an agreement, and Japan accepted a 15% tax rate and opened the automobile and rice markets. The three major US automakers were dissatisfied with the US - Japan trade agreement [3] - The US Treasury Secretary said that there is no rush to finalize the successor to Powell [3] - Ishiba Shigeru denied the "resignation rumor" and said that he had not discussed whether to stay or step down [3] - The auction demand for 40 - year Japanese long - term bonds hit a 14 - year low [3] - The White House released an "AI Action Plan" to relax regulations and expand energy to accelerate AI development [5] - Hainan Free Trade Port will be sealed off on December 18, with a 74% "zero - tariff" commodity ratio and 8 "first - line" ports [5] - Tesla's Q2 performance was dismal, with the largest sales decline in a decade. Musk warned that the situation may be severe in the next few quarters [5] 4.3 Trend Intensity - The trend intensity of tin is - 1, indicating a weak bearish view. The range of trend intensity is in the interval of [-2, 2], where - 2 means the most bearish and 2 means the most bullish [4]