On June 23, tin prices declined, weighed down by a stronger U.S. dollar index and lacklustre performance in the AI sector. In spot trading, as prices fell, traders adjusted their quotes in line with the futures, resulting in a noticeable increase in sales volumes; some traders shipped over 150 tonnes in a single day. Downstream buyers actively restocked in the afternoon when tin prices were at lower levels, making overall spot market activity brisk. Looking ahead, supply-side disruptions persist, while the active downstream restocking following the price decline points to resilient consumption. Fundamentals are therefore providing some support for a floor in tin prices. Macro factors are expected to remain a source of volatility. The elevated USD index is likely to continue to weigh on tin prices. Meanwhile, the underperformance of the AI sector may keep broader market sentiment subdued. In summary, tin prices are expected to fluctuate with a bearish bias in the near term.
