On May 27, tin prices rose before retreating. The sharp afternoon decline prompted a slight pick-up in buying interest from traders and downstream users. Overall, however, with end-user orders remaining largely needs-based and tin prices still elevated, the improvement in downstream restocking willingness was limited. Trading activity improved from May 26 but stayed generally subdued. Looking ahead, the unresolved U.S.-Iran negotiations and the Fed's hawkish tilt are expected to keep the USD index elevated and risk aversion rising, thereby weighing heavily on tin prices. Fundamentally, supply disruptions and weak demand are expected to generate mixed impacts on tin prices. In the near term, under the weight of macro headwinds, tin prices are likely to remain on a weaker footing.
