Boosted by macro favorable factors, LME tin inventory hits a new low in over two years, while tin prices strengthen but the spot market encounters a chill [SMM comment]

Published: Jul 24, 2025 18:36

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LME tin inventory fell to a low since May 2023. With no significant bright spots emerging on the supply side, overseas spot supply showed signs of tightness. Driven by the rising expectations for macro-friendly policies in China and positive macro front news such as the US reaching a trade agreement with Japan, LME tin rose by 2.48% on July 23. As the night session strengthened, SHFE tin followed suit and rose on July 24. As of around 15:03 on July 24, LME tin was up 0.41%, trading at $34,995/mt, with its weekly line temporarily up 4.63% for the week. SHFE tin rose by 1.88%, trading at 273,950 yuan/mt, with its weekly line temporarily up 3.81% for the week. However, it is worth noting that after tin prices rose above 270,000 yuan/mt again, trading in the spot market fell silent.

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