Boosted by the Rise of "Dr. Copper," Tin and Nickel Rebound from Lows [Institutional Commentary]

[Futures Market] During the night session on Friday, tin fluctuated and declined. In the early morning session, it quickly bottomed out and stabilized, with the day session narrowing the losses. The most-traded April contract closed at 276,620, down 0.81%, with both total trading volume and open interest decreasing. SHFE nickel experienced fluctuations and rebounded in the afternoon. The most-traded May contract closed at 129,950, up 0.12%, with total trading volume declining and open interest slightly increasing.

[Analysis] The most-traded April tin contract is facing a contract rollover. Attention should be paid to the increase in open interest for future contracts. Tin has been adjusting continuously, but the medium-term upward trend remains unchanged. It is recommended to wait for trading opportunities after the recovery of open interest. Nickel's overall valuation is relatively low. Although the rebound was hindered, the support below is also strong.

[Valuation] Tin: Moderately High; Nickel: Moderately Low

[Risk] Macro policies fall short of expectations