The increasing consumer electronics industry and the soaring demand from the food packaging industry is fuelling the tin market. Tin being a key component utilized within electrical goods and contemporary electronics is highly demanded globally. In addition, the alloy of lead and tin is utilized as a solder material for forming a permanent connection amongst electronic components.
The major trends seen in the global tin market are as follows:
- The Prime Trend: The wide sideway cost up and down in the tin industry has continued from past few years. This is supported by a number of Indonesian attempts in order to restrain the supply while the prices have fallen. Last year, it seemed that the Indonesian policy will succeed in the regulation of supply of tin but it has not been the case. Thus, the prices of tin are expected to be anything between $18,000-$20,500 range during the first quarter of 2016.
- China Rocking the Boat: The demand from China for imported and refined tin has depleted largely as it has easily harnessed a fresh source of mine supply, something the industry for tin had been struggling to do till Myanmar opened up in 2011. In addition, the import of China for tin ores as well as low-grade concentrates from Myanmar have risen to eighty eight percent in the first eleven months in 2014. Thus, this abundant supply has actually offset the less outflow of refined metal via Indonesia.
- Downfall of Indonesian Exports: The export of Indonesia had been summed to 75,925 tonnes in 2014, which is the lowest in past eight years as well as depleted from 91.613 tonnes since 2013. Although the exports in Indonesia aren’t rapid, still the production is swift.
- Asia Pacific, Largest Consumer in 2014: On the basis of volume, the region of Asia Pacific emerged as the largest tin consumer in 2014. North America and Europe trailed the region of Asia Pacific. The region of Asia Pacific is also anticipated to be the most swiftly developing market in the coming years.
The prime players operating in the market are Thailand Smelting and Refining Co., Ltd. (Thaisarco), Yunnan Tin Group Company Limited, Ltd., Guangxi China Tin Group, and Yunnan Chengfeng Non-ferrous Metals Co., among others.