Tin prices rose on July 6. The Mysteel spot quotation for 1# tin ingot was in the range of Yuan 408,000-415,000/tonne, with an average price of Yuan 411,500/tonne, up Yuan 12,000/tonne from the previous trading day. In terms of market activity, sales by smelters and traders were poor. As tin prices climbed, buying interest from downstream firms dropped sharply, with only a very small number making hand-to-mouth purchases. End-user orders also declined amid higher tin prices and the off-season demand lull. Overall, spot trading was thin. Looking ahead, the pullback in the U.S. dollar index from its highs is positive for tin prices, and tight raw material supply continues to underpin the price floor. However, the off-season consumption is weighing on prices. With mixed bullish and bearish factors at play, tin prices are expected to move sideways in the near term, with limited room both on the upside and the downside.
