FX.co ★ Tin Eases from 3-Month High

Tin futures eased to $34,000 per tonne, down from a recent peak of $35,100 reached on July 23rd. This decline mirrored a broader pullback in base metals, as investors reevaluated the potential influence of Chinese government infrastructure initiatives on industrial demand. The initial surge in industrial inputs somewhat retreated following Beijing's announcement of a CNY 1.2 trillion dam project, which had spurred hopes of economic stimulus through construction activities.

On the supply side, Myanmar's Wa State has shown willingness to consider reissuing tin mining quotas, despite its prolonged cessation of mining operations. However, key projects in the region have yet to resume operations. The timeline for restarting these projects has been further delayed by several factors, including an unusually early start to the rainy season, deteriorating mining infrastructure, and a transportation ban in Thailand, which hinders the acquisition of essential materials.