Tin prices fell on May 21 but remained at relatively high levels. As a result, smelters and traders saw only moderate sales. Traders noted that downstream buyers' wait-and-see sentiment had not improved, while end-users continued to purchase strictly on a hand-to-mouth basis. Overall, trading activity in China's tin ingot spot market stayed subdued. Looking ahead, mounting expectations of U.S. Fed rate hikes and soft near-term consumption are putting downside pressure on tin prices. However, supply-side disruptions from the rainy season in Myanmar and resource controls in Indonesia, together with a favorable long-term demand outlook driven by AI and other applications, are providing support. In summary, mixed factors are likely to keep tin prices oscillating around current levels in the short term.
