On July 27, tin prices moved higher. The transaction price of 1# tin ingot in the Shanghai market, as surveyed by Mysteel at 15:30, stood at Yuan 418,500–422,500/t, with an average of Yuan 420,500/t, up Yuan 6,000/t from the previous trading day. In terms of consumption, smelters and traders reported only ordinary sales, noting that high prices kept most downstream buyers on the sidelines, with only a few making hand-to-mouth purchases. Looking ahead, macro factors are expected to continue disrupting tin prices in the near term. Attention should be paid to the Fed's rate decision and accompanying remarks at 2:00 a.m. Beijing time this Thursday. A hawkish tone would support the U.S. dollar and weigh on tin prices. Fundamentally, the raw material shortage has yet to be fully resolved and is likely to provide support for tin prices, while weak purchasing appetite is expected to cap the upside. With mixed bullish and bearish factors at play, tin prices are likely to remain range-bound in the short term.
