Then we saw the Commodities Ex-Gold Index break out of a multi-year accumulation range, printing fresh 3-year highs.
We've also seen the Dry Bulk Shipping ETF $BDRY resolve a textbook Kardashian Bottom, signaling renewed strength in global trade.
The Green Revolution Index, which tracks rare earths, lithium, nickel, cobalt, and copper, also looks ready to join the party.
Now? The next domino is falling: Tin futures.
Tin is quietly breaking out of a multi-year base, showing relative strength versus the broader base metals complex.
The latest Base Metals Performance Table is screaming short-term momentum for most of the space.
Let’s break it all down 👇
Base Metals are ripping 🔥
Look at all that green on the screen. Over the past five days, base metals have seen a significant bid - Coking Coal is up 25%, Rebar is up 4.6%, Copper is up 4.3%, and Tin is up 3.7%.
Sure, some of these contracts are still digesting multi-year downtrends. But this is what the early stage of a new primary uptrend looks like: short-term strength repairing the long-term damage.
Tin, in particular, is emerging as a fresh leader within the space.
Tin Futures are trading at the highest level in years 📈
Tin ripped ~300% in two years during the last bull cycle, only to spend the next few years grinding sideways in a giant accumulation range.
Now? It’s finally resolving higher.
We want to own Tin futures above 4,775, targeting 7,500 over the next 3–6 months.
This is a textbook cup-and-handle breakout - precisely what you want to see when a new leg higher is beginning.
Tin Futures are leading the pack 📈
Here’s Tin relative to the ASC Base Metals Index (an equal-weight basket of Copper, Aluminum, Steel, Nickel, Tin, Zinc, Lead, and Iron Ore).
Tin has now broken out to new all-time highs relative to the broader base metals basket.
That’s the definition of relative strength - when the whole complex is improving, but one contract is outperforming them all.
When leadership emerges inside a strengthening theme, we pay attention.
