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  Secondary Lead: Smelters Showed Low Willingness to Ship, Few Quotations Were Posted Today [SMM Lead Midday Review]

• [SMM Nickel Midday Review] Nickel prices continued to decline on September 10, while China's CPI dropped 0.4% YoY in August.

• Desay SV showcases innovative smart mobility solutions at IAA MOBILITY 2025

  For Desay SV, the IAA MOBILITY event is not only a platform to display innovation, but also a demonstration of its growing localization capabilities in Europe after years of building a regional presen...

• Market transactions remained sluggish, with spot premiums/discounts for copper in North China continuing to decline [SMM North China Spot Copper].

  In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 170-1,130 yuan/mt, averaging a discount of 150 yuan/mt, down 10 yuan/mt from the previous trading day. Transaction prices ranged from 79,500 to 79,570 yuan/mt, with the average price at 79,660 yuan/mt, down 125 yuan/mt from the previous trading day.

• The tug-of-war between sellers and buyers intertwined with macro caution, SHFE tin fluctuated rangebound in the afternoon session [SMM Tin Midday Review]

  [SMM Tin Midday Review: Tug-of-War Between Sellers and Buyers Intertwined With Macro Caution, SHFE Tin Fluctuates Rangebound in Morning Session] On the afternoon of September 10, the most-traded SHFE tin 2510 contract opened lower at 269,080 yuan/mt and maintained a rangebound fluctuation pattern during the session, closing at 270,370 yuan/mt by midday, up 580 yuan/mt (0.21%) from the previous trading day. The domestic market exhibited a tug-of-war between "strong supply constraints" and "weak actual demand," with the price fluctuation range narrowing and trading activity showing slight caution. Meanwhile, LME tin futures remained under pressure overnight, temporarily quoted at $34,275/mt, up $240 (0.71%). The inventory rebound and narrowing spot premiums suggested a slight easing of short-term supply pressure overseas.