Tin futures in the UK declined to $52,000 per tonne from a two-week high of $53,350, reflecting renewed skepticism about AI-related infrastructure demand. Shares of chipmakers and data center developers came under pressure despite upgraded guidance from leading semiconductor firms, as exceptionally strong profits led markets to question the durability of the rally and raised concerns about potential overinvestment in infrastructure.
The previous surge in deals and capital spending on computing capacity had supported tin prices, given the metal’s key role in solder used in data centers and energy storage systems. Industry participants still expect tin demand from AI servers to triple by 2030.
On the supply side, major producer Indonesia continued to curb the issuance of export licenses amid bottlenecks in its licensing system. The country’s refined tin exports slumped more than 40% year-on-year to 3,246 tonnes in May. Additionally, Jakarta tightened mining permits further and confiscated 500 tonnes of metal from unlicensed operations.
