On September 21, the mainstream quotation range of 1 # tin ingot in the domestic spot tin market was 185500-187500 yuan/ton, with an average price of 186500 yuan/ton, 2500 yuan/ton higher than the previous trading day.

On the night of the 20th, the dollar rose to a nearly 20 year high, and the market expected the Federal Reserve to raise interest rates by more than 75 basis points. The crude oil market closed down by more than 1%. Affected by the macro data, the metal rose and fell by half in the night market, with Lunxi leading the rise by 1% and Shanghai Tin leading the rise by 1.76% in the internal market. In the morning of the 21st, Shanghai Wuxi continued its rising trend. As of the closing of the 21st, the main contract 2210 of Shanghai Wuxi closed at 180960 yuan/ton, up 2.66%.

In terms of fundamentals, the overall quotation of manufacturers is still stable in the near future, the supply and demand are basically unchanged, and the pattern of weak supply and demand is still maintained. The operating rate of major manufacturers is generally stable. The domestic tin output increased significantly in August, the source of import goods increased significantly, the market quotation of import goods increased, and the domestic tin ingot supply was relatively loose as a whole. Consumption in downstream demand is slightly weak, and the willingness to prepare goods before the festival is generally low. The downstream still maintains on-demand procurement, and the market has a strong wait-and-see mentality. From a comprehensive perspective, the tin market is still weak in both supply and demand, and the downstream demand is weak. It is hard to support the tin price. It is expected that the rising momentum of tin price is insufficient, and it is expected that the tin price is likely to bear more pressure in the future market.