Tin prices tumbled to below $35,000 per tonne, after reaching an all-time high at near $36,800 last week as tightness in the Chinese market could ease considerably as power limits restrict tin consumption. Guangdong and Jiangsu, home to downstream consumer companies, are some of the key areas affected by power restrictions. Some local solder enterprises suggested that almost every enterprise in Kunshan has stopped production, including their downstream customers and causing orders to be canceled or postponed. China has been struggling with power supply issues for much of this year, but unlikely this time, previous power restrictions were often directed toward metal production, often resulting in short-term supply shortages. Tin prices remain more than 70% higher this year, propelled by shrinking inventories and robust demand from electronic firms.
Historically, Tin reached an all time high of 36797.50 in September of 2021. Tin - data, forecasts, historical chart - was last updated on September of 2021.
Tin is expected to trade at 36094.67 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 34067.13 in 12 months time.