The US Fed Is Likely to Keep Interest Rates Unchanged in March; The Spot Market Remains Sluggish [SMM Tin Morning News]

The US Fed Is Likely to Keep Interest Rates Unchanged in March; Spot Market Remains Sluggish [SMM Tin Morning Brief] According to CME "FedWatch," the probability of the US Fed keeping interest rates unchanged in March is 97.5%, while the probability of a 25-basis-point interest rate cut is 2.5%. By May, the probability of maintaining the current interest rate is 86.8%, with a cumulative probability of a 25-basis-point interest rate cut at 12.9% and a 50-basis-point cut at 0.3%. In the futures market, SHFE tin prices fluctuated downward during yesterday's daytime session. By the close of the daytime session, the price of the most-traded SHFE tin contract stabilized at around 258,000 yuan/mt. During the night session, SHFE tin prices climbed slightly before stabilizing, adjusting to around 259,500 yuan/mt before the close. The relatively small change in the overall open interest of SHFE tin contracts also reflects a decline in market participation. Meanwhile, the spot market remained relatively sluggish. Most end-user enterprises have resumed full operations after the Chinese New Year holiday, leading to a slight increase in spot market transactions, though the overall market remains subdued.