On September 23, tin prices fell. Mysteel's survey showed that the Shanghai market 1# tin ingot transaction price (15:30) was Yuan 410,000-412,000/t, averaging Yuan 411,000/t, down by Yuan 500/t from the previous trading day. In market trading, smelters mostly held prices firm and were reluctant to sell, so transactions were limited. Traders quoted prices in line with the market, but raw material inventories at downstream enterprise were adequate, and orders from end users showed no significant increase; therefore, downstream enterprises' restocking demand was low, with only a few making essential purchases. Overall, spot market trading was sluggish. Looking ahead, the high U.S. dollar index, coupled with weak demand, is expected to weigh on tin prices and keep them trading weakly in a volatile range in the short term.
