Benchmark tin on the LME was down 0.8% at $22,755 a tonne.
Prices could rise further in seasonally strong demand after this month's Chinese Lunar New Year holidays but should fall to about $20,000 towards the end of the year.
The premium on the London Metal Exchange (LME) for tin that can be quickly delivered has ballooned as stockpiles in the exchange's warehouse system near record lows.
"There's a mismatch of supply and demand, a shortfall that will continue," said independent analyst Robin Bhar.
However, US Senate leader Mitch McConnell's rejection to schedule a swift vote on whether to raise the country's coronavirus relief checks to $2,000 from $600 dampened sentiment.