On July 3, tin prices rose. Mysteel 1# tin ingot at Yuan 398,500-400,500/tonne, with an average of Yuan 399,500/tonne, up Yuan 4,500/tonne from the previous trading day. Smelters and traders adjusted their offer prices in line with futures, but actual sales were mediocre. Only a small number of downstream enterprises made purchases, and end-user orders stayed limited to essential demand. Overall, market trading in China was quiet. As of July 3, China's tin retail ingot inventory fell by 725 tonnes WoW to 8,301 tonnes, with the largest declines in Shanghai and Guangdong. This was mainly driven by active downstream restocking when tin prices were low early last week, along with limited arrivals at warehouses. Looking ahead, easing expectations for Fed rate hikes this year are expected to boost the nonferrous metals sector. Combined with low visible tin ingot inventory in China. Consequently, tin prices are likely to fluctuate with an upward bias in the short term.
