Tin prices fell on September 28. Mysteel's survey of the Shanghai market 1# tin ingot transaction price (15:30) at Yuan 408,500–410,500/t, averaging Yuan 409,500/t, down Yuan 2,000/t from the previous trading day. With the National Day holiday approaching and tin prices weak, downstream restocking demand emerged, and intraday trades were concentrated around Yuan 407,000/t. Downstream firms reported a slight improvement in end-customer orders after the price decline. Overall, spot market trading volume improved somewhat. Looking ahead, the high U.S. dollar index will weigh on tin prices, but tight feedstock supply persists, and some smelters will undergo annual maintenance. Tin prices are therefore expected to be rangebound with an upward bias in the short term.
