Price trend

According to the monitoring of SunSirs commodity market analysis system: Last week (August 25-29), the market price of 1# tin ingots in East China rose step by step. The average market price was 269,990 RMB/ton at the beginning of the week and 273,220 RMB/ton at the weekend, with a weekly increase of 1.20%.

Analysis review

The market was fluctuating within a range, primarily due to the balance between low inventory support and weak demand. In the spot market, trading was relatively quiet, with downstream purchases primarily focused on meeting rigid demand and limited willingness to accept higher prices. Traders were predominantly involved, but overall market sentiment remained cautious, with trading volumes increasing despite moderation.

On the raw material and mining side, supply continued to face obstacles. Mines in Myanmar's Wa State, a key source of tin concentrate, were slow to resume production. Constrained by multiple factors, including the rainy season, equipment shortages, and supply constraints, the resumption rate had fallen far short of market expectations.

On the supply side, Tin Industry Co., Ltd. announced that it will conduct routine shutdowns and maintenance on its tin smelting equipment based on actual conditions. The shutdowns were scheduled to begin on August 30, 2025, and are expected to last no longer than 45 days. Overall, due to the tight supply, tin prices were clearly supported by a strong bottom.

On the demand side, while the end-consumer market had yet to fully recover, the continued rise in prices and the impending arrival of the traditionally peak sales season of September and October had quietly shifted the mindset of downstream electronics and photovoltaic ribbon manufacturers. Fearing further price increases, these companies had begun taking a precautionary approach, replenishing inventory while prices were relatively low. This shift from a wait-and-see approach to active stockpiling had generated substantial buying demand in the market.

Market outlook

The market is about to enter a verification phase, and market participants will closely monitor the order status of downstream electronics and photovoltaic companies in September and October. Tin prices are expected to fluctuate at a high level.

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