Tin prices rose on October 19. According to Mysteel's survey, the 1# tin ingot transaction price (15:30) was in the range of Yuan 379,000-382,000/tonne, averaging Yuan 380,500/tonne, up by Yuan 1,750/tonne from the previous trading day. In terms of market trading, smelters remained firm on offers, with moderate shipments. Some traders had depleted their inventory and therefore stopped quoting and selling. A small number of downstream enterprises made only essential purchases. End-user demand remained weak. Overall, spot trading was poor. Looking ahead, fewer near-term macro data releases may slightly reduce their disturbance to tin prices. Tight spot supply may support tin prices. Tin prices are therefore likely to trade within a firm range; however, given lackluster demand, gains are expected to be limited.
