On April 29, tin prices fluctuated and increased. Smelters adjusted their offer prices in line with the market, but actual transactions were limited. Meanwhile, downstream users turned more cautious as prices rose, with only some making purchases based on rigid demand. Moreover, orders from end-use markets remained relatively subdued. In summary, overall market trading was fairly quiet. Looking ahead, the U.S. Fed kept rates unchanged in April, and the prevailing market expectation of just one rate cut, or even none, this year has weighed on dollar-denominated metal prices. On the fundamentals side, with China's Labor Day holiday approaching, enterprises are expected to hold off on trading to avoid price-volatility risks. As a result, tin prices are expected to drift lower in choppy trading over the near term.
