Tin prices rose on October 21. According to Mysteel's survey, the 1# tin ingot transaction price (15:30) was in the range of Yuan 387,000-390,000/tonne, averaging Yuan 388,500/tonne, up by Yuan 5,000/tonne from the previous trading day. In terms of market trading, smelters generally held firm offers, while actual shipments were average. Some traders that had suspended quotations due to shortages resumed quoting, but downstream buying sentiment remained weak, and end-market orders showed no clear increase; overall market activity therefore remained subdued. Looking ahead, overseas inflationary pressure is expected to continue weighing on tin prices. Fundamentals show no obvious contradiction, while low inventories and high premiums provide some support. Tin prices are expected to remain rangebound in the short term.
