The price of tin on the London Metal Exchange (LME) increased due to expectations of a US Federal Reserve interest rate cut.
On the 14th, the spot price of tin traded on the LME was $33,300 per ton, while the three-month price was $33,325. On the 15th and 16th, the spot prices were $34,100 and $33,625 respectively, and the three-month prices were $33,970 and $33,650 respectively.
The rise in tin prices was influenced by growing expectations of a US Federal Reserve interest rate cut after the US Consumer Price Index (CPI) slowed for the first time this year. As the sentiment for a rate cut continued, tin prices maintained their upward trend.
Meanwhile, Indonesia's refined tin exports in April were 3,079.46 tons, a decrease of 57.63% compared to the same period last year. Indonesian tin export volumes hit a low of 0.4 tons in January this year, then increased to 55 tons in February and 3,858.35 tons in March, but decreased again in April.
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