Tin futures in the UK declined to $52,300 per tonne from the June 2nd record high of $59,000, in line with broader weakness across base metals as a stronger US dollar and higher interest rates temporarily outweighed the effects of tight supply and surging AI-related demand. The dollar firmed after a robust US jobs report, pushing global yields higher and putting short-term pressure on the manufacturing outlook. Even so, tin futures remain up 26% year-to-date.
On the supply side, major producer Indonesia has intensified its crackdown on illegal tin mining, seizing 500 tonnes of metal from unlicensed operations. The action reinforces Jakarta’s pledge to curb unregulated mining after President Subianto ordered the closure of 1,000 illegal mines in Sumatra, further tightening supply prospects from one of the world’s key exporters.
At the same time, tin’s growing role in data centers is driving expectations of robust demand. Industry participants project that demand for tin in AI servers will triple by 2030, in line with rapidly increasing data and technology needs across Asia.
