On July 9, tin prices weakened early before rebounding, lifting the overall price center higher. Mysteel's 1# tin ingot was quoted at Yuan 408,500-411,500/t, averaging Yuan 410,000/t, up by Yuan 1,000/t day on day. In terms of trading, a small number of downstream users restocked during the morning price dip, which improved selling interest and led to slightly better shipments for traders. However, as tin prices subsequently recovered and incremental end-user orders remained limited, overall spot tin ingot trading volumes stayed relatively thin. Looking ahead, tight raw material supply and a weaker U.S. dollar index are expected to lend support to tin prices, while low acceptance of current price levels and the off-season consumption period are likely to weigh on the market. With mixed bullish and bearish factors, tin prices are expected to fluctuate widely.
