Tin prices rose on May 13, leading to sluggish trading. Smelters actively adjusted their selling prices and were keen to sell. Only a few downstream users making small restocking purchases due to high prices. End-user sentiment remained cautious, keeping orders strictly hand-to-mouth. In contrast, intraday speculative activity picked up, and open interest in SHFE tin futures surged. Looking ahead, key developments to watch include Trump's visit to China, the progress of U.S.-China trade talks, and the impact of inflation on the U.S. Fed's interest rate policy. Fundamentally, supply disruptions at tin mines in Myanmar's Wa State could tighten China's tin ore supply and support prices. While spot consumption is weak, but medium- to long-term market expectations remain strong. Overall, tin prices are expected to remain elevated.
