LME tin down 4.00% intraday at 51,105 dlr/ton.

China night futures session opened; main domestic contracts were mostly lower. SHFE silver fell nearly 4%; SHFE tin and nickel dropped more than 2%. Propylene, SHFE zinc, polypropylene, coke, fuel oil, SHFE gold, BR rubber, SHFE aluminium and SHFE copper declined over 1%. Rapeseed meal rose more than 1%.

S&P Global’s preliminary June Japan PMI showed overall business activity rose for the first time since the outbreak of the Middle East war; seasonally adjusted composite output index increased from 51.1 in May to 52.5, signalling stronger demand. S&P GLOBAL MARKET INTELLIGENCE’s Annabel Fiddes said part of the expansion is driven by war-related restocking and may be temporary as inventories fill and cost pressures intensify. The survey recorded the largest rise in input costs in nearly four years, lifting average selling prices, with inflation and supply-chain disruption continuing to weigh on firms’ outlook.