Downstream Enterprises Show Limited Restocking Demand, Spot Market Transactions Remain Weak [SMM Tin Morning News]

Downstream Enterprises Show Limited Restocking Demand, Spot Market Transactions Remain Weak [SMM Tin Morning Brief] US Senate Democratic Leader Chuck Schumer predicted on Wednesday that former President Trump's efforts to repeal subsidies for semiconductor factories would ultimately fail. Schumer stated that the CHIPS and Science Act, which he helped negotiate, is "crucial for the US to lead the world in technology and artificial intelligence, as well as to bring high-paying manufacturing jobs back to the US." This $52 billion subsidy program has bipartisan support and has spurred investments exceeding $400 billion from companies like TSMC and Intel. However, during a joint session of Congress on Tuesday night, Trump called for the repeal of the act, earning applause from congressional Republicans. While Republicans control both the House and Senate, the slim majority in the House, coupled with expected filibustering in the Senate, makes repealing the act politically challenging. In the tin ingot spot market, transactions were relatively sluggish yesterday. Most downstream enterprises reported that recent orders have been mediocre, with overall restocking demand remaining low. Some downstream enterprises completed restocking last weekend, while others made purchases earlier this week. Currently, most downstream enterprises show limited purchasing interest and are largely adopting a wait-and-see approach. Some traders reported scattered transactions yesterday, with a few noting sales of around one truckload. Overall, market transactions were weak, and participants are awaiting further updates on the resumption of production in the Wa State region of Myanmar.