On February 10, the London Metal Exchange (LME) reported tin inventory of 7,430 tons, an increase of 400 tons. Among these, registered warrants accounted for 7,030 tons, while canceled warrants stood at 400 tons, representing a cancellation rate of 5.38%.
PriceSeek analysis of tin indicates a long-short score of -1. The LME tin inventory increased by 400 tons to 7,430 tons, with a cancellation rate of only 5.38%, suggesting relatively ample supply and weak demand, thereby exerting pressure on the spot market. The rise in inventory reflects the risk of oversupply, while the low cancellation rate indicates an increase in deliverable inventory, which may dampen buyer confidence and negatively impact spot prices. A score of -1 signifies a generally bearish influence, with expectations of downward pressure on spot prices.
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