SHFE and LME markets show divergence in tin inventory performance, with LME tin inventory falling to a new low in over two years

Data released by the London Metal Exchange (LME) showed that LME tin inventory first increased and then decreased last week, and continued to pull back this week, with the latest inventory level at 1,985 mt, hitting a new low in over two years.

Data released by the Shanghai Futures Exchange (SHFE) showed that during the week of July 4, SHFE tin inventory rebounded slightly, with weekly inventory increasing by 3.49% to 7,198 mt, reaching a new high in nearly a month.

Note: Generally speaking, a continuous decline in inventory at domestic and overseas exchanges will support futures prices, while the opposite will have a bearish impact on futures prices.

Comparison of tin inventory at LME and SHFE since 2023

The following are tin inventory data at LME and SHFE since June 2025: (Unit: mt)