On June 15, tin prices rose, supported by hopes that a resolution to the U.S.-Iran geopolitical conflict could ease inflation and improve global trade. In the spot market, the higher prices led to poor sales by smelters and traders. Only a small number of downstream buyers made essential purchases, while most remained on the sidelines. End-user orders stayed sluggish amid the off-season and rising prices. Overall, spot tin trading was thin. Looking ahead, the easing of macro headwinds is positive for tin. The U.S. and Iran plan to sign an agreement this Friday to reopen the Strait of Hormuz and lift the U.S. naval blockade on Iranian ports, a move expected to curb energy-driven inflation. On the fundamentals side, tight raw material supply and strong long-term demand expectations are providing a floor for tin prices. As a result, tin prices are likely to stay elevated in the near term.
