On October 27, tin prices initially rose before falling. According to Mysteel's survey, the 1# tin ingot transaction price (15:30) was in the range of Yuan 384,000-387,000/tonne, averaging Yuan 385,500/tonne, up by Yuan 1,000/tonne from the previous trading day. In terms of market trading, downstream purchasing interest was weak, with only a few companies buying for essential needs, leaving overall market trading subdued. In the night session, tin prices rebounded, with SHFE once rising to Yuan 391,190/tonne. This may be related to improving semiconductor sentiment: Anthropic formally filed for an IPO, and SK Hynix expects the memory chip shortage to persist until 2030-news that may have revived confidence in the AI narrative and driven a sharp rebound in the Philadelphia Semiconductor Index. Looking ahead, near-term tin price upside is likely capped by wait-and-see sentiment ahead of the Fed decision and weak demand, while recovering AI sentiment, low inventories and high premiums provide some support. Tin prices are expected to trade rangebound in the near term with an upward bias.
