Rida Futures: The development prospects in the AI field are strong, which will lead to a significant increase in soldering demand

Macroeconomic aspect, Federal Reserve Board Member Milam: This year, interest rate cuts need to exceed 100 basis points, and I am looking forward to Wosh’s upcoming performance. The Central Committee of the Communist Party of China and the State Council’s opinions on firmly advancing rural revitalization with a focus on agricultural and rural modernization. Fundamentals, supply side, Myanmar’s resumption of production, combined with the end of the rainy season, domestic tin ore imports have increased, and the first quarter is expected to continue rising. Recently, tin ore processing fees have slightly rebounded, indicating a easing of the tight tin ore supply situation. On the smelting side, most companies still have relatively low raw material inventories, and most are operating at a loss. Coupled with increased maintenance at year-end, refined tin production continues to be limited, but there is pressure for output to rebound after the New Year. Regarding imports, Indonesia’s tin exports have increased, and the import window is gradually opening, increasing import pressure. On the demand side, the development prospects of the AI field are strong, which will drive a significant increase in soldering tin demand. Recently, tin prices have fallen back, downstream procurement sentiment has improved, inventories and warehouse receipts have decreased significantly, and spot premiums have risen to 1150 yuan/ton; LME inventories remain stable, and spot premiums have declined. Technical aspect, increased positions have led to a price rebound, and market sentiment is recovering. (Ruida Futures)