Tin prices on the London Metal Exchange edged lower on Thursday, August 6, 2026, settling at $56,045 per tonne compared with $56,325 per tonne in the previous session, according to SP Angel Corporate Finance LLP's daily market view published on Share Talk. The modest decline in tin comes as Minsur (MINSURI1 PE), identified by SP Angel as the world's second-largest refined tin producer, reported broadly stable second-quarter production figures alongside a significant increase in costs. The Peruvian miner posted Q2 output of 7,000 tonnes, a marginal decline of 0.5% year-on-year according to ITA data.
However, cash costs rose 9.5% to $10,500 per tonne, driven by a 49% increase in capital expenditure directed toward a new tailings dam and mine life extension activities. Despite the cost pressures, Minsur's tin sales surged 75% to $400.9 million in the quarter, and gross profit more than doubled, reflecting the elevated pricing environment for the metal. The broader base metals complex presented a mixed picture on the day.
Copper hit a new high of $14,060 per tonne amid growing investor expectations that the United States will shortly announce a new copper import tariff, with SP Angel noting that the premiums being paid for physical copper suggest market participants are highly confident some form of import restriction is imminent. Nickel, by contrast, fell 2.1% to $16,605 per tonne — its lowest level since mid-July — after reports that the Indonesian government is set to grant a major mine an additional ore quota of tens of millions of tonnes, according to SMM. Aluminium edged up to $3,235 per tonne from $3,227 per tonne, zinc advanced to $3,729 per tonne from $3,699 per tonne, and lead softened to $1,882 per tonne from $1,902 per tonne.
In the tin supply chain, a notable geopolitical risk factor flagged by SP Angel concerns the Democratic Republic of Congo, where an Ebola epidemic is reported to be threatening tin, tantalum, and tungsten production and export flows. SP Angel warned that if the epidemic spreads further, it could begin to affect copper and cobalt supply from the region as well. On the demand side, the lithium sector provided an indicator of broader electronics and energy storage appetite.
Albemarle (ALB US) reported that lithium demand rose 45% in the first five months of 2026, near the top of its own 15-40% growth forecast for the year. The company's 2026 forecast for grid and data center storage batteries was revised 11% higher, and Q2 net income jumped to $480 million from $22.9 million a year earlier, with storage earnings more than tripling on higher prices, according to Mining.com. While this data point relates directly to lithium rather than tin, strong growth in battery storage and electronics manufacturing is generally supportive of tin consumption, given the metal's critical role in soldering applications across the semiconductor and electronics supply chain.
Macroeconomic conditions on the day were shaped by developments around the Strait of Hormuz. Iran reported reaching an agreement with Oman on a navigable shipping channel, with a joint statement described as being in its final stages. Gold rose 1.8% to $4,254 per ounce as the US dollar and Treasury yields fell, while crude oil remained around $79.8 per barrel as the Hormuz news was balanced against continued Houthi attacks on Red Sea shipping.
Global equity markets were mixed: the Dow Jones Industrials gained 0.49% to 54,349, the Nikkei 225 fell 0.93% to 65,683, and the Hong Kong Hang Seng dropped 1.88% to 25,429, while the Shanghai Composite edged up 0.43% to 3,895. Among major mining equities, Glencore rose 4.1% overnight and 10.1% on the week, Newmont Mining gained 6.7% overnight and 14.2% on the week, and Antofagasta advanced 3.0% overnight and 14.1% on the week, reflecting strong investor sentiment toward copper and precious metals producers. All commodity price data cited in this article are sourced from LME (base metals), BGNL Bloomberg Generic Composite (precious metals), and Asian Metal, as referenced in SP Angel's market view of August 6, 2026, published via Share Talk.
SP Angel Corporate Finance LLP is authorised and regulated by the UK Financial Conduct Authority and is a member of the London Stock Exchange. This note constitutes marketing communication and non-independent research as defined under MiFID II.
Source: share-talk.com