LME tin prices have stabilised around $30 000 per tonne

Following the sharp drop in July, LME tin prices have stabilised around $30 000 per tonne, despite this week’s global stock market rout.

Tin’s speculative support has continued its downward trend, now at a net long position of just over 1 000 contracts amid the sell-off in AI and semiconductor stocks.

SHFE inventories have fallen more than 20% in the past two weeks as downstream producers restock at lower prices, while China’s refined imports for June plummeted.

Indonesian supply is showing steady month-on-month improvement although July exports are estimated to be down 32% year-on-year based on trade data.

Consumption indicators point to weakening sentiment in August, a traditionally slow month for metal demand.