SMM Morning Meeting Summary: Domestic supply side overall stable operation, need to pay attention to downstream order situation

Cleveland Federal Reserve President Mester said last Tuesday that if the data supports, the June policy meeting may be the beginning of easing policies. "If the economy develops as expected, inflation continues to fall towards 2%, the labor market and economic growth remain strong, then I think it is appropriate to start lowering the federal funds rate later this year," Mester said. At the same time domestically, NDRC Director Zheng Zhajie held a special symposium last Tuesday to communicate with private enterprises on large-scale equipment updates and trade-ins for consumer goods, which has a strong stimulating effect on the tin price at the macro level.