Trade Disputes Ease, Ore Supply Resumption Expected, Tin Prices in the Doldrums [Institutional Commentary]

On Wednesday night, SHFE tin 2506 continued to pull back. Fundamentally, the supply side is expected to see a significant increase MoM. Consumption improved with the resumption of work and production from February to March. Inventory-wise, social inventory increased WoW last week, which is overall unfavorable for futures prices. In terms of news: ITA International Tin Association announced that Alphamin Resources will resume operations at its Bisie tin mine in eastern DRC. According to Sina News, the US government will suspend reciprocal tariffs on dozens of countries for 90 days, maintaining a minimum tariff rate of 10%. Macro trade dispute policies and fluctuations in the mining sector suggest short-term trading, with a reference range of 235,000-263,000 yuan/mt. Later, focus will be on the implementation of macro measures, disturbances from Myanmar and DRC mines, Indonesia's export speed, and verification of consumption data. (Source: Hualian Futures)