The M23 Movement Decides Not to Participate in Peace Talks; Spot Market Transactions Remain Sluggish [SMM Tin Morning News]

The M23 Movement Decides Not to Participate in Peace Talks; Spot Market Transactions Remain Sluggish [SMM Tin Morning Brief] US President Donald Trump has chosen current US Fed Governor Michelle Bowman as the new Vice Chair for Supervision of the Federal Reserve, a move welcomed by Wall Street banks and small lenders who expect Bowman to be more industry-friendly. In a social media post on Monday, Trump stated, "Michelle has served on the Federal Reserve Board since 2018 and possesses extensive expertise in handling inflation, regulation, and banking operations." Additionally, the M23 Movement, a Congolese rebel group accused of receiving support from Rwanda, has decided not to participate in Tuesday's peace talks in Luanda, the capital of Angola. On Monday, the European Union sanctioned three Rwandan military commanders and mining agency officials, accusing them of supporting senior M23 members and armed groups in eastern DRC. The M23 Movement criticized certain international organizations for deliberately undermining peace efforts. The spokesperson for the President of the Democratic Republic of Congo stated that their delegation would still attend the talks. Meanwhile, Rwanda announced it was severing diplomatic ties with Belgium, accusing the country of continuously harming Rwanda's interests during the ongoing conflict in the DRC. Rwanda demanded all Belgian diplomats leave within 48 hours. Belgium expressed regret and decided to take reciprocal countermeasures. During the night session, SHFE tin prices fluctuated downward before rebounding. In the tin ingot spot market, transaction activity remained sluggish yesterday, with most traders reporting poor sales. Spot market transactions have come to a standstill as most downstream enterprises are waiting for tin prices to pull back further.