Downstream restocking willingness on dips has decreased, while SHFE tin prices continue to fluctuate upward [SMM Tin Morning News] Macro: (1) GlobalFoundries, a US semiconductor wafer foundry company, has announced plans to invest US$16 billion to enhance its semiconductor manufacturing and advanced packaging capabilities at its facilities in New York and Vermont. (Bullish ★) (2) China South Industries Group Corporation has implemented a spin-off, with its automotive business becoming an independent central state-owned enterprise. (Bullish ★) (3) Jean-Marc Chery, CEO of STMicroelectronics, stated on Wednesday that the French-Italian chipmaker has seen signs of an upturn, with market demand expected to increase, which will boost its performance in the coming quarters. (Bullish ★) (4) Tariffs - ① It is rumored that a US-Canada agreement may be reached next week. Canadian Prime Minister: If negotiations fail, Canada is prepared to take retaliatory measures against the US. ② EU trade officials: Negotiations with the US are progressing steadily in the right direction. ③ UK Prime Minister: Very confident that US tariffs can be reduced in a very short time. ④ US Commerce Secretary: Analysis and formulation of tariff standards for aircraft parts will be completed by month-end; there will be no mutual tariff and barrier reductions with Vietnam. ⑤ Mexico will announce measures to address US steel and aluminum tariffs next week. (Neutral)