Tin official prices hit another record high
Tin official prices hit another record high Tin LME official prices hit another record high yesterday as the base metals rally continues, supported by US dollar weakness, a resurgence of debasement trades, and frenzied activity from Chinese investors.
For tin, a divergence between the SHFE and LME futures markets is beginning to emerge, as speculators outside China start to pare back positions.Although tin benefits from relatively inelastic demand in the form of solder, consumers are reluctant to purchase at such elevated prices, while visible exchange stocks have doubled since the start of November.
China is now entering its off-season; however, the planned cancellation of tax rebates for PV products from April 1, 2026 may be front-loading some demand into Q1.On the supply side, Indonesian exports have resumed following customary New Year delays to export permits.
Trading volumes on the JFX have totalled 2,600 tonnes so far this month, already 66% higher than January exports last year. Meanwhile, shipments of ore from Myanmar to China have begun to stabilise at around 1,300 tonnes of tin-in-concentrate per month.
