On July 13, tin prices decreased. Mysteel's 1# tin ingot was quoted at Yuan 411,000–414,000/tonne, averaging Yuan 412,500/tonne, down by Yuan 4,000/tonne from the previous trading day. The lower price prompted a small number of downstream buyers to restock, but limited growth in end-user orders and still-elevated prices kept some market participants on the sidelines. Overall trading was moderate. Looking ahead, heightened U.S.-Iran geopolitical tensions and hawkish signals from a Federal Reserve governor are expected to push up the U.S. dollar index, which would significantly weigh on tin prices. Attention should focus on the upcoming U.S. June CPI release; if inflation exceeds expectations, tin prices face further downside risk.
