On September 8, tin prices consolidated with an upward bias. On the macro side, rising expectations of a Bank of Japan rate hike drove the yen sharply higher, putting pressure on the USD and lending some support to tin prices. In trading, some smelters were reluctant to sell, citing limited finished-product inventories after heavy shipments during the earlier price rise; with traders' buying interest also weak at current prices, they planned to stay on the sidelines. Downstream users maintained need-based purchases and showed limited appetite for raw material procurement. End-users placed fewer orders as prices exceeded their psychological expectations. Overall, spot market trading was quiet. Looking ahead, macro factors are likely to create significant volatility for tin prices. The key focus will be U.S. PPI and CPI data due this week; if inflation comes in hot, the USD may rebound and weigh on tin prices. From a fundamental perspective, the weak supply and demand picture is expected to persist. In the short term, tin prices are likely to fluctuate with a slightly weak bias.
