Tin prices fell on October 15. According to Mysteel's survey, the 1# tin ingot transaction price (15:30) was in the range of Yuan 372,000-375,000/tonne, averaging Yuan 373,500/tonne, down Yuan 5,500/tonne from the previous trading day. In terms of market trading, smelters' premium quotes remained firm, with some raising offers intraday, indirectly indicating tighter spot supply. Downstream purchasing demand eased after heavy earlier restocking, but many traders had depleted their inventories. With smelter material prices still firm, much intraday trading was trader-to-trader, leaving overall market activity decent. Looking ahead, rising inflation and interest-rate expectations, elevated U.S. Treasury yields, and lackluster performance in the semiconductor sector will put some downward pressure on tin prices. In the short term, tin prices are expected to remain weak amid strong bearish factors. However, after a sharp price drop, spot trading of tin ingots has improved, and the tightening spot market will provide some support for tin prices.
