On June 17, tin prices traded sideways, while spot premiums for branded tin ingots remained unchanged. Spot trading was subdued. Traders generally reported difficulty selling at prevailing prices, and downstream firms stayed largely cautious, with only a few making essential purchases. End-user orders were weak amid high prices and the seasonal consumption lull. Looking ahead, fundamentals should provide a floor for tin prices, but macro factors are likely to weigh heavily in the near term. The U.S. FOMC statement released at 2:00 a.m. Beijing time on June 18 kept the benchmark rate at 3.50%–3.75%, the fourth consecutive hold. However, the U.S. Fed's focus on inflation, along with half of officials considering rate hikes this year, has driven the U.S. dollar index markedly higher, potentially putting downward pressure on tin prices in the short run.
