Tin prices fell on May 14 but stayed elevated above Yuan 423,500/tonne. In response, smelters and traders adjusted their quotes in line with the futures prices, yet downstream buyers remained largely cautious and mainly purchased on a hand-to-mouth basis. End-user orders were also soft as May entered the traditional consumption off-season. Overall, market trading was subdued. Looking ahead, in the near term, amid strengthening inflation and a change in Fed leadership, the market expects high U.S. interest rates to persist, which will strengthen the U.S. dollar and in turn cap tin prices. In addition, subdued market trading will also weigh on tin prices. Therefore, tin prices are expected to fluctuate with a weaker bias in the near term.
