Group 1 - During the National Day holiday, the expectation of overseas liquidity easing boosted the non-ferrous metals market, with copper prices reaching a new high [1] - On the first trading day after the holiday, domestic tin prices surged, with the main contract closing up 2.99% at 287,090 yuan/ton, marking a six-month high [1] - Although trading volume significantly decreased compared to before the holiday, open interest increased substantially, indicating a balanced position between long and short positions [1] Group 2 - Specific trading positions showed that Dongzheng Futures increased long positions by 1,056 contracts, significantly outpacing the increase in short positions, resulting in a net long position increase of 880 contracts [2] - Citic Futures also saw increases in both long and short positions, with long positions rising by 374 contracts to 1,144 contracts, ranking third [2] - Other futures firms like GF Futures and Dongwu Futures increased long positions by over 400 contracts while slightly reducing short positions, indicating a decrease in net short positions [2] Group 3 - Overall, LME inventory has declined again, and liquidity concerns remain, contributing to the rise in tin prices [3] - Indonesia's crackdown on illegal mining has raised market concerns, but the impact on major tin smelting companies is expected to be limited due to their stable supply channels [3] - Domestic tin production is set to resume after maintenance, and supply is expected to slightly increase, while demand remains weak, with attention on consumption trends in October [3]

Core Viewpoint - During the National Day holiday, LME tin prices experienced a strong performance with a cumulative increase of 2.95%, while Shanghai tin opened with a rapid rise of over 2% today, driven by supply concerns due to Indonesia's crackdown on illegal mining and slow recovery of tin production in Myanmar [1] Group 1 - LME tin prices rose by 2.95% during the National Day holiday [1] - Shanghai tin opened with a rise of over 2% today [1] - Supply concerns are heightened due to Indonesia's intensified crackdown on illegal mining [1] Group 2 - The slow recovery of tin production in Myanmar continues to exert pressure on raw material supply [1] - Tight supply conditions are providing strong support for tin prices [1]