Outlook for tin markets: Indonesian exports dropped considerably

Tin prices have started the year on a strong footing, with LME 3-month price closing at $30,106, up 3.5% in January despite the Deepseek-related slump in the Philadelphia Semiconductor Index earlier last week.

Although a new mining and smelting licensing system was introduced last year, Indonesian exports dropped considerably in January due to New Year delays to export permits.

Smelters in China continue to report tightness in feedstock availability, prompting many to take longer production breaks during the Spring Festival.

Following the inauguration of President Trump, uncertainty surrounding US tariffs continues to strongly influence the outlook of base metal markets