Macro Stability Amid Job Market Optimism, Yet Tightening Tin Supply Pressures Persist: SMM Morning Meeting Summary

Publicado: Sep 9, 2024 09:14
[SMM Morning Meeting Summary: Frequent Macro Disturbances Lead to Tighter Tin Mine Supply Expectations] As layoffs remained low, the number of initial jobless claims in the US fell last week, which may help ease concerns about the deterioration of the job market. The US Department of Labor announced on Thursday that the number of seasonally adjusted initial jobless claims for the week ending August 31 decreased by 5,000 to 227,000, lower than the market expectation of 230,000. The Beige Book report released by the Federal Reserve on Wednesday stated that the level of employment "was generally steady or slightly up in recent weeks." However, when turning our attention to the domestic tin industry, we find that pressure on the supply side is gradually emerging. According to SMM's in-depth market research data, domestic refined tin production decreased by 2.87% month-on-month in August 2024. Despite this, compared with the same period last year, the data still showed a significant increase of 45.64%...

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