On May 25, tin prices fluctuated lower intraday, yet the daily average price rose day on day. Shipments from smelters and traders were moderate, downstream players stayed on the sidelines, and end-users held to hand-to-mouth orders, leaving overall market trading thin. Looking ahead, although the U.S. holds an optimistic view on the Middle East, inflation concerns have already pushed the USD index to elevated levels, capping tin prices. The U.S.-Iran situation warrants continued attention. Fundamentally, raw material supply disruptions provide support; progress in Myanmar's mine resumption and policy changes in Indonesia should be monitored. Regarding consumption, spot trading is subdued, but sectors such as AI have bright prospects, creating a "strong expectations, weak reality" dynamic. Overall, tin prices are likely to fluctuate around current elevated levels in the near term.
