On September 15, tin prices fluctuated at a relatively low level. In market trading, smelters held prices firm and were reluctant to sell, while traders quoted in line with the market. Downstream buyers concentrated on restocking at low prices, and end-user orders improved. However, as the earlier active trading had depleted traders' inventories and downstream sentiment gradually eased, spot trading volume slipped slightly from the previous period. Looking ahead, rising rate-hike expectations in the near term and a stronger U.S. dollar index are weighing on tin prices. Fundamentally, the tight ore supply persists, and downstream firms have become much more active in restocking at low prices and ahead of the holiday, providing bottom support for tin prices. In summary, tin prices are expected to remain weak and range-bound in the near term; attention should be paid to follow-up macro disturbances and the extent of downstream demand recovery during the peak season.
