Tin prices rose before pulling back on August 26. In terms of market trading, downstream buyers showed limited purchasing interest and a largely wait-and-see stance, mostly restocking only to meet essential demand. Transactions were concentrated at Yuan 423,000–426,000 per tonne. From a macro perspective, the U.S. July PCE price index growth rate was flat compared with the previous month, and market expectations for Federal Reserve rate hikes edged higher, lifting the USD index and weighing on tin prices in the night session. Looking ahead, unresolved geopolitical conflicts in the near term, along with potential new tariff-driven inflationary pressures, may further strengthen expectations for Fed rate hikes and remain bearish for tin prices. On the fundamentals side, the pattern of weak supply and weak demand is expected to persist. Tin prices are likely to remain volatile with a bearish bias in the short term.
