The US Fed's interest rate policy remains restrictive. The price of SHFE tin returned to the 280,000 mark during the night session. [SMM Tin Morning Brief]

The US Fed's interest rate policy remains restrictive. During the night session, SHFE tin prices returned to the 280,000 yuan/mt level. [SMM Tin Morning Brief] US Fed Governor Kugler stated on Tuesday that the US Fed's interest rate policy remains restrictive and is in a good position, but progress toward bringing inflation back to the 2% target has slowed since last summer, and the latest data showing an increase in goods inflation is "not helpful." In prepared remarks for an event hosted by the US Hispanic Chamber of Commerce in Washington, Kugler noted that the recent surge in inflation expectations reflected in surveys of US consumers also warrants close attention. Based on the readings of the Consumer Price Index and Producer Price Index released earlier this month, Kugler said the Personal Consumption Expenditures Price Index, which the US Fed uses to guide its 2% target, is estimated to rise 2.5% YoY in February, unchanged from the increase in January. During the night session, SHFE tin prices fluctuated upward, with overall market sentiment turning bullish. The price center returned to around 280,000 yuan/mt. In the spot market for tin ingots, trading remained sluggish yesterday, with most traders reporting that the majority of downstream and end-user companies were waiting for prices to pull back further. With the rebound in SHFE tin prices during the night session, some downstream companies may make small purchases to avoid losses from continued price increases.