Tin prices remained elevated and edged higher on September 10. Trading was subdued, only a few downstream buyers entered the market to restock for immediate needs, and most traders reported single-digit transaction volumes. Notably, U.S. August PPI, released on the evening of September 10 Beijing time, rose to 5.4% year on year from 4.7% in July, above the market forecast of 5.3%, indicating that inflationary pressure remains high amid unresolved geopolitical conflicts. After the release, expectations for a rate hike at the September 16 FOMC meeting increased, with CME FedWatch showing a probability above 70%. As a result, the stronger U.S. dollar index weighed on base metals prices, and SHFE tin fell 2.18% in the night session. Looking ahead, macro factors are likely to weigh heavily on tin prices in the near term, and prices are expected to trade with a weak bias.
