Tin Prices

Tin Prices H2 ​​​​​2023

In H2 2023, the price of the tin in the United States reached 28744 USD/MT by December. Similarly, in China, the tin prices hit 34839 USD/MT in H2 2023.

Tin Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Tin Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of tin pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of tin at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of tin price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing tin price fluctuations, such as supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Tin Market Analysis

The global tin market size reached 300.5 Tons in 2023. By 2032, IMARC Group expects the market to reach 372 Tons, at a projected CAGR of 2.40% during 2023-2032.

• The electronics industry is a significant driver of the global tin market. Tin is primarily used as solder in the manufacturing of electronic components such as circuit boards and semiconductors. With the rapid advancement of technology and the increasing integration of electronic devices into everyday life, the demand for tin has grown consistently. According to the SHANGHAI global tin production increased on account of the rebound in consumer demand in 2021. The global tin production reached 300000 tons in 2021, up 14% from 264000 tons in 2020.
• The role of tin extends beyond electronics into sustainable energy technologies. Tin is crucial in the production of photovoltaic (PV) cells for solar panels, where it is used as a coating material to enhance the cells' efficiency. With the global push toward renewable energy sources, the demand for tin in solar energy applications has seen significant growth. The solar energy sector has been one of the fastest-growing markets for tin consumption. Tin-coated solar cells are more efficient in converting sunlight into electricity, driving their adoption in both residential and industrial solar installations. As governments worldwide incentivize renewable energy adoption, the demand for tin in this sector is expected to increase further.
• Supply constraints and mining challenges constitute another critical factor influencing the global tin market. Tin is primarily sourced from a few countries, with China, Indonesia, and Myanmar being the largest producers. According to the ICDX GROUP, Indonesia is the largest tin exporter globally and second largest producer, with 90% of tin procured from the BANGKA BELITUNG PROVINCE. Political instability, regulatory changes, and environmental concerns in these regions can significantly impact global tin supply. Environmental regulations and geopolitical factors affect tin mining operations. For instance, changes in mining policies in Indonesia, the largest tin producer globally, can disrupt supply chains and lead to price volatility. Additionally, the complexity and cost associated with tin extraction in some regions pose ongoing challenges for maintaining stable production levels.

Tin News

The report covers the latest developments, updates, and trends impacting the global tin market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the tin price trend.

Latest developments in the tin industry:

• On June 13, 2024: Tin explorer Elementos has agreed to acquire up to 50% of Iberian Smelting, which owns and operates the Robledallano smelter in Spain, for €3.2m over a five-year period.
• On June 10, 2024: Atlantic Tin has announced the results of a scoping study incorporating the company’s newly acquired SAMINE processing facility near their Achmmach tin project, Morocco. The company announced in late-May that it had entered into an agreement to acquire SAMINE, which holds a mine and exploitation license between Atlantic Tin’s Ach.

Product Description

Tin is a silvery-white metal known for its malleability, corrosion resistance, and low melting point. It is primarily extracted from its ore cassiterite (SnO2) through a process called smelting, where the ore is heated with carbon in a furnace to produce tin metal and carbon dioxide. This metal has been utilized by humans for millennia due to its versatility and beneficial properties.

Tin finds widespread use in various industries, most notably in the manufacturing of solder. Soldering, crucial for joining electronic components, relies on tin due to its ability to create strong, reliable electrical connections. Beyond electronics, tin is also employed in the production of tinplate, used for food and beverage packaging due to its corrosion resistance and ability to preserve the contents. Additionally, tin is crucial in the production of alloys such as bronze (tin-copper alloy) and pewter (tin-lead alloy), valued for their durability and aesthetic appeal.

Regional Coverage

The report provides a detailed analysis of the tin market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the tin price trend. 

Global Tin Price

The report offers a holistic view of the global tin pricing trends in the form of tin price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of tin but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed tin demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Tin Price

Europe's tin pricing trends are deeply affected by its stringent environmental regulations and the push towards sustainable and recycled materials. The automotive and aerospace industries in Europe, which demand high-quality specialty metals, further complicate the pricing landscape. Energy costs and the availability of renewable energy sources also significantly influence tin production costs. Additionally, the region's dependency on tin imports, coupled with fluctuating currency values, adds another layer of complexity to understanding price trends in this market.

Detailed price information for tin can also be provided for an extensive list of European countries.

North America Tin Price

In North America, tin prices are closely tied to technological advancements in extraction and processing techniques, which aim to reduce costs and enhance efficiency. The region's emphasis on defense and technology sectors, which require precise and high-grade metals, drives demand variability. Furthermore, trade policies, particularly those involving major trade partners like Canada and Mexico, heavily influence tin supply chains and pricing structures. The shift towards green energy and electric vehicles in North America also affects demand patterns for metals.

Specific tin historical data within the United States and Canada can also be provided.

Middle East and Africa Tin Price

The tin pricing trends in the Middle East and Africa are increasingly impacted by infrastructural developments and investments in the construction and transportation sectors. The region’s political climate and its effect on operational stability and security are also crucial in determining price trends. Additionally, the Middle East's strategic initiatives to diversify away from oil dependency and invest in mining and metal production capabilities are reshaping its market dynamics. In Africa, the availability of resources combined with foreign investment in mining projects heavily influences local and global tin supply and prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Tin Price

In the Asia Pacific region, tin pricing dynamics are significantly influenced by robust industrial growth and expanding manufacturing sectors, particularly in China and India. The region's high demand for metals is driven by its active construction industry and increasing investments in infrastructure projects. However, supply disruptions due to geopolitical tensions and regulatory changes in mining practices also play a critical role in shaping price fluctuations. Additionally, trade policies and import-export tariffs continue to impact the cost structures and availability of tin, making the Asia Pacific market a complex environment for price trend analysis.

This tin price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Tin Price

Latin America's tin market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in tin prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, economic fluctuations and currency devaluation are critical factors that need to be considered when analyzing tin pricing trends in this region.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of tin pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
• The study examines factors affecting tin price trend, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The tin price charts ensure our clients remain at the forefront of the industry.