On August 14, tin prices traded in a volatile range. According to Mysteel, the quoted price of 1# tin ingot stood at Yuan 426,000–429,000/t, averaging Yuan 427,500/t, increasing by Yuan 2,500/t. In market trading, with the week drawing to a close and tin prices fluctuating, downstream purchasing interest was weak, trading was thin, and most traders reported shipments of less than 10 tonnes. On inventories, as of August 14, tin ingot traders' inventory in major Chinese markets rose by 307 tonnes week on week to 8,758 tonnes. Downstream acceptance of current tin prices was generally lukewarm, reducing tin ingot outflows and leading to a slight inventory build-up. Looking ahead, a low U.S. dollar index in the near term, supply disruptions in raw materials, and low global visible inventories are expected to provide support to tin prices. However, thin market trading is likely to limit further upside. In summary, tin prices are expected to remain rangebound between Yuan 420,000 and Yuan 440,000/tonne in the near term.
