Tin reaches another record high of $57,725/t in early June

Having gained 10.9% during May, tin reached another record high, with LME three-month price climbing to $57,725/t. Macroeconomic factors, together with heightened investor activity in China, have been the primary drivers of prices so far in 2026, largely overshadowing underlying market fundamentals.

That said, despite an easing of major supply-side pressures in Q1, weak Indonesian exports in April and May following the RKAB shift, coupled with stalling progress in the recovery of mining in Myanmar’s Wa region, have also underpinned the recent rally.

The exceptional performance of semiconductor equities has provided further support, with the Philadelphia Semiconductor Index rising 82% since the end of March, reinforcing the bullish structural case for tin demand.