Tin futures were trading around the $30,000 per tonne mark, a level not seen since June 2022, as top consumer China made efforts to reopen and support its economy, thus lifting the outlook for demand. In a significant easing of coronavirus-related controls, the Chinese government announced that people would no longer need to show negative virus tests or health codes to travel between different regions of the country. Still, tin prices are down roughly 50% from their March record peak of nearly $50,000 amid weak demand from the consumer electronics sector and rising levels of production from major producers Indonesia and Malaysia. Malaysia Smelting, one of the world's biggest tin producers, said it would increase its output by 20% over the next couple of years. In the longer term, demand for Tin should benefit from the energy transition and green technologies, particularly in solar panels and EVs.
Historically, Tin reached an all time high of 200800.00 in September of 2022. Tin - data, forecasts, historical chart - was last updated on January of 2023.
Tin is expected to trade at 28511.70 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 25732.52 in 12 months time.