Base metal prices are back up after Trump’s 90-day pause on higher tariffs
Base metal prices are back up after Trump’s 90-day pause on higher tariffsTin has been on a rollercoaster ride over the past couple of weeks, surging to a near three-year high above $38,000/t on 02 April, before falling sharply to below $30,000/t for the first time since mid-January.
Prices remained elevated due to supply-side pressures and spiked again following the Myanmar earthquake in late March on the expectation that a restart to mining in Wa may be delayed.Trump’s reciprocal tariff announcement drove down prices across the complex although tin initially remained more resilient than its base metal peers. However, news that Alphamin is restarting operations at Bisie in DR Congo induced prices to fall 8.5%, with LME 3-month price closing at $29,824/t.
Base metal prices are on the way back up after Trump’s 90-day pause on higher tariffs but huge uncertainty remains with escalating trade tensions between China and the US weighing on tin demand forecasts. In the short term though, the current state of supply continues to dominantly influence tin price movements.
