On June 29, tin prices saw heightened volatility, while the overall price level edged slightly higher. Smelters adjusted their offer prices in line with futures, but trading volumes were moderate. Traders reported that some downstream buyers made need-based purchases, yet overall buying interest weakened compared to the earlier price decline. End-users only placed orders to cover rigid demand amid the off-season. Overall, spot trading volumes, though lower than in the prior period, remained decent. Looking ahead, while supply-side factors and improved downstream buying at low prices provide a floor for tin prices, the elevated U.S. dollar index is expected to cap prices in the near term, keeping tin prices subdued. Keep a close watch on U.S.-Iran geopolitical tensions and this week's U.S. labor data.
