Tin Prices Stable Amid Rate Cut Hopes and Supply Concerns

Market dynamics for tin remain complex, balancing supportive expectations of interest rate cuts against persistent supply and demand challenges. As of August 4, 2025, the most-traded SHFE tin futures contract closed at 265,390 yuan per metric ton, reflecting a modest daily increase of approximately 0.43%. Intraday trading saw prices oscillate narrowly between 264,980 and 267,140 yuan. Short-term market sentiment was notably influenced by weaker-than-anticipated US employment figures, with July non-farm payrolls adding only 73,000 jobs—well below the estimated 110,000. Revisions downward for previous months totaled 258,000 jobs, while the unemployment rate rose to 4.2%. These figures heightened expectations for a potential interest rate reduction by the Federal Reserve in September to 89%, leading to a sharp decline in the US dollar index and boosting dollar-denominated non-ferrous metals. Geopolitical tensions, marked by the Trump administration's plan to impose 35% tariffs on multiple nations, intensified trade concerns and drove some investment into industrial metals. Nonetheless, tin prices faced resistance due to ongoing supply-demand imbalances, resulting in gains that lagged ...