Tin prices declined on August 24. According to Mysteel, the quoted price of 1# tin ingot stood at Yuan 424,000–427,000/t, averaging Yuan 425,500/t, decreasing by Yuan 4,000/t. In terms of market trading, when prices were lower in the morning, buying interest among some downstream buyers improved and they made purchases for immediate needs. After prices rebounded in the afternoon, however, wait-and-see sentiment increased and buying slowed. Overall spot trading activity was acceptable. Looking ahead, a low U.S. dollar index and tight supply are expected to support tin prices in the short term, while weak downstream buying interest at high prices may limit the upside. As a result, tin prices are likely to remain rangebound at high levels in the near term.
