The Ceasefire Agreement in Eastern DRC May Facilitate the Resumption of Operations at the World's Third-Largest Tin Mine, Alleviating Supply-Side Impact [SMM Tin Morning Brief]

Ceasefire Agreement in Eastern DRC May Promote Resumption of Operations at the World's Third-Largest Tin Mine, Alleviating Supply-Side Impact [SMM Tin Morning Brief] Under the mediation of Qatar's Emir Tamim, DRC President Tshisekedi and Rwandan President Kagame held a meeting to discuss the conflict in eastern DRC and issued a joint statement. The statement emphasized that the heads of state agreed on the necessity of continuing negotiations in Doha to lay a solid foundation for lasting peace. The three leaders welcomed the progress made in the Luanda and Nairobi processes, as well as the joint summit of the East African Community (EAC) and Southern African Development Community (SADC) held in Dar es Salaam, Tanzania, on February 8, 2025. They reiterated the need for all parties to adhere to the summit consensus and implement an immediate and unconditional ceasefire. The three leaders agreed to advance the Doha talks to establish lasting peace in the DRC and the region. Tin mines in the DRC that had temporarily halted production are expected to resume operations soon, reducing the impact on the supply side. During the night session, SHFE tin prices fluctuated rangebound, with the price center remaining around 281,000 yuan/mt. In the tin ingot spot market, trading activity became increasingly sluggish yesterday. Although prices declined compared to last weekend, most traders reported poor sales, with downstream enterprises showing low interest in price inquiries and primarily relying on inventory for production. Spot market transactions remained weak.