SMM

US Inflation Data to Be Key to Dollar Performance; Most Downstream Enterprises Postpone Large-Scale Stockpiling [SMM Tin Morning Brief] US inflation data to be released later this week will be key to the dollar's performance, as Fed Chairman Jerome Powell previously stated that the central bank is not in a hurry to cut interest rates. On Friday, Powell downplayed concerns about US economic growth and indicated that the Fed would need to see a weakening labour market and progress in anti-inflation efforts before cutting interest rates again. Brooks noted that the housing index has proven to be a tricky component of core inflation, with rents affected by California wildfires. He stated, "Overall, if this index does not improve, we may see a broad recovery of the dollar later this week." Overall, SHFE tin prices remained in the range of 260,000-265,000 yuan/mt. In the tin ingot spot market, spot transactions were relatively sluggish yesterday, with downstream enterprises making just-in-time procurement in small quantities. Both downstream and end-user enterprises showed limited acceptance of high prices, and most downstream enterprises postponed large-scale stockpiling. Most traders reported scattered transactions yesterday, accompanied by a small amount of post-pricing, with overall shipments remaining low.