沪锡期货日报-20250917

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report - In the short term, the Shanghai Tin 2510 contract is expected to continue its volatile upward trend, but investors need to pay attention to changes in macroeconomic data, industry supply - demand dynamics, and technical indicators [9]. 3. Summary by Relevant Directory 3.1 Futures Market - Contract行情: The Shanghai Tin 2510 contract opened at 273,880 yuan/ton today, 1,030 yuan/ton higher than the previous trading day's settlement price of 272,850 yuan/ton. The price fluctuated actively during the session, reaching a high of 275,030 yuan/ton and a low of 272,320 yuan/ton, and finally closing at 273,960 yuan/ton. The trading volume was 54,239 lots, a decrease compared to 69,879 lots in the previous trading day [2]. - Variety Price: There are 12 contracts for Shanghai Tin futures. The total trading volume of the variety is 77,872 lots, and the total open interest of the Shanghai Tin contracts is 58,542 lots, with the open interest of the Shanghai Tin 2510 contract being 26,117 lots [5]. 3.2 Spot Market - Basis Data: The closing price of the Shanghai Tin 2510 contract today is 273,960 yuan/ton. The average spot price in the Yangtze River Non - ferrous Metal Market on the same day is 270,188 yuan/ton, and the basis is - 3,772 yuan/ton [6]. 3.3 Influencing Factors - Industry News: On the supply side, smelters in Yunnan, Jiangxi and other places in China are restricted by raw material shortages, and their capacity utilization rates are continuously under pressure. Coupled with the periodic maintenance of smelters in Yunnan, the spot supply of tin shows a structural tightening. On the demand side, the new energy vehicle sector in the new energy industry performs well, increasing the demand for tin, but traditional demand areas such as tin - plated sheets are squeezed by aluminum substitutes, and industries such as tin chemicals and float glass mainly have existing rigid demand [7][8].