Tin prices fell on June 10. Traders reported that downstream buyers showed strong purchasing interest after the price decline, with some traders shipping over 100 tonnes that day. End-user orders also increased at the lower prices. Overall, market trading was active. U.S. May CPI rose 4.2% YoY, a three-year high. Although core CPI was moderate, market expectations for the Fed's interest rate policy remained unchanged, and the USD index stayed elevated, weighing on tin prices. Fundamentally, China's refined tin output was stable in May. Large producers held relatively ample tin ore inventories, while small and medium-sized enterprises still faced raw material tightness, providing some support to prices. On the demand side, trading volumes improved recently as tin prices declined. Looking ahead, rising Middle East geopolitical risks may suppress tin prices in the short term. Fundamentally, insufficient raw material supply and strong long-term consumption expectations for refined tin are lending support to the downside of prices. Overall, the center of tin prices is expected to shift lower in the near term.
