This year, tin—often dubbed the "computing power metal"—has captured considerable attention. Following two corrections from its highs, tin prices have rebounded in both futures and spot markets since late March. The price of the main contract for Shanghai tin futures soared from a low of RMB 323,010 per ton to a peak of RMB 449,960 per ton, registering a maximum increase of nearly 40% within that range. Industry analysts ascribe this price surge to a confluence of supply and demand dynamics. On the supply front, the slow resumption of production in Myanmar's Wa region, tighter resource controls in Indonesia, and recurrent challenges in African producing areas have collectively contributed to a lack of flexibility in the global tin supply. On the demand side, burgeoning sectors such as AI computing power and semiconductors continue to open up new avenues for consumption. Despite the favorable long-term demand fundamentals, the current high prices have tempered downstream procurement enthusiasm, indicating that tin prices may experience volatility at elevated levels in the short term. Nevertheless, in the medium to long term, the prevailing trend for tin prices is expected to shift gradually upward.