Tin Outlook & Market Analysis - Sucden Financial > Metals Outlook > Market Insights

Expert tin market insights

Our quarterly tin outlook is published in our Quarterly Metals Report, which covers base, precious and ferrous metals. The impact of supply and demand fundamentals and macroeconomic implications for the tin futures and spot prices are analysed. Our research team produce a tin price range forecast as part of the report.

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Tin Outlook – Q1 2025

Tin prices remained subdued in Q4 2024, trading below $31,000/t amid weak demand and stable inventories. In early 2025, we expect prices to stay rangebound between $29,000–$31,000/t as supply risks from Indonesia and Myanmar fail to offset sluggish demand from the consumer electronics sector. While falling SHFE stocks and China’s shift to net tin imports could trigger short-term volatility, sustained price gains are unlikely without a more substantial demand recovery.

Metals

As we enter the first quarter of 2025, trade tensions heavily influence market sentiment, with Trump’s tariffs narrative shaping the overall momentum. Volatility has gripped major asset classes – including FX, bonds, and equities – as markets attempt to gauge the scale, timing, and likelihood of these tariffs being fully implemented. While Chinese New Year holidays traditionally bring a quieter tone to the first quarter of the year, tariff announcements - such as a 10% tariff on Chinese imports and a 25% tariff on aluminium and steel - are injecting moderate volatility into the metals complex. What can we expect in the metal markets in the first months of 2025?

Q1 2025