Tin futures soared to $32,750 per tonne for the first time since June 2022, tracking the surge for other base metals amid mounting concerns about low supply. The world’s top exporter, Indonesia, triggered ripples of tight supply in the export market as licensing delays drove January’s exports to a near halt, magnified by concerns of future licensing disruptions for the rest of the year. This compounded previous production setbacks, headlined by mining disruptions in the Wa State of Myanmar amid the country’s war. China’s efforts to source tin ores from the DR Congo instead of Wa were short-lived as armed unrest in the nation also hampered its mining activity. The developments coincided with traction in demand, largely due to a rebound in Chinese and American manufacturing activities, per the latest PMIs, and bullish long-term bets for the metal due to its soldering properties used in AI materials. Consequently, tin inventories at the LME have nearly halved this year to 3,670 tonnes.
Tin increased 6,421 USD/MT or 25.26% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Tin reached an all time high of 200800 in September of 2022. Tin - data, forecasts, historical chart - was last updated on April 26 of 2024.
Tin increased 6,421 USD/MT or 25.26% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Tin is expected to trade at 33019.47 USD/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 35103.01 in 12 months time.