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Tin retreated after spiking to a record high the previous day, but sentiment remained positive after the closure of more than 20 small smelters in main producer Indonesia raised concerns about a supply shortage.
Three-month London Metal Exchange tin jumped 12% to a record US$11,000 a tonne on Monday, pushing up the price of other base metals.
Tin, used in electronics and as a lead substitute in solder, has gained more than 60% this year. The silvery, malleable metal slipped on profit-taking.
Research group World Bureau of Metal Statistics said in September that tin was in surplus by 1,000 tonnes in the first seven month of 2006.
For those sceptics who say the commodities market is experiencing a bubble similar to the dot.com bubble, you should hear what renowned commodities investor Jim Rogers has to say.
"Sugar is 85% below its all-time high, cotton 60% , silver 80%, gold 40%, coffee 70%. If you adjust the old highs for inflation, many commodities are 80-90% below their all-time highs," Mr Rogers said in an e-mail last week.