FX.co ★ Tin Holds Near 3-Month High

Tin futures are currently priced at $33,550 per tonne, maintaining proximity to the three-month peak of $33,850 reached on July 2nd. This strength is attributed to persistently low supply coupled with strong demand evidence. Authorities in Myanmar's Wa State have indicated a willingness to reissue tin mining quotas after a prolonged suspension of activities. However, major mining operations in the region remain inactive due to an unusually early onset of the rainy season, outdated mining infrastructure, and Thailand's transportation prohibitions, which impede access to necessary inputs. Despite these challenges, Alphamin Resources has resumed operations at its tin mine in the Democratic Republic of Congo (DRC), following a period of halted activity due to insurgencies by militant groups. Meanwhile, manufacturing demand in Asia is buoyed by the Chinese government's push for additional economic stimulus, as they navigate a deceleration in consumer demand and growth threats posed by US-imposed sanctions.