Tin prices rose on September 7. Trading activity showed weak raw material purchasing interest from downstream firms as prices increased, with only a few buying on rigid demand. Current prices exceed end-users' expectations, limiting order volumes. Overall spot market turnover slowed. According to Mysteel, China's refined tin production in August was 15,888 tonne, down 1.63% MoM, with a slight increase in Yunnan, flat output in Guangxi, and declines in Jiangxi and other regions due to maintenance or order factors. Looking ahead, September output is expected to edge lower further, mainly due to tight raw material supply and scheduled maintenance at some plants. On price outlook, a weaker USD index and supply-side factors provide support, but weak consumption caps upside. Attention should be paid to Fed monetary policy expectations and demand recovery in the upcoming peak season. In the near term, tin prices are expected to remain range-bound at high levels.
