Tin prices saw positive gains in the first and second quarters of 2023, primarily driven by strong global demand and constrained supply. Supply chain disruptions led to dwindling inventories, which further bolstered the upward trajectory of tin prices. Maintenance activities in production facilities across the Asia Pacific region did affect supply, but existing inventories were sufficient to meet the reduced demand during this period. However, there were concerns stemming from fluctuations in the electronics market, which is a significant driver of the tin industry. The sluggish recovery in the semiconductor and electronics sectors had an impact on the overall demand for tin, thereby influencing its price growth.
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Definition
Tin is a chemical element with the symbol Sn and atomic number 50. It is a soft, silvery-white metal known for its malleability and low melting point. Tin exhibits good corrosion resistance, making it suitable for various applications. It forms alloys easily, such as bronze and pewter, which are utilized for decorative and industrial purposes. Tin’s low toxicity makes it suitable for food packaging and utensils. Its primary oxide, tin oxide, is used as a transparent conductor in electronic devices like touchscreens.
Key Details About the Tin Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Tin in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Tin Prices, including India Tin price, USA Tin price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Tin Price Trend:
Tin is valued for its versatile industrial applications, thanks to its advantageous properties. With its excellent corrosion resistance and low melting point, it plays a crucial role in the production of solder, which is essential for connecting electrical components. Tin-plating further extends the lifespan of metals by preventing corrosion, commonly used in items such as food packaging, cans, and various metal objects. Tin-based alloys like bronze and pewter are employed in crafting durable and decorative items. Moreover, the electronics industry heavily relies on tin for soldering circuit components. Tin also plays a vital role in the manufacturing of glass, ceramics, and enamel coatings. Its non-toxic qualities make it suitable for use in dental amalgams and cosmetics. The adaptability of tin across different sectors underscores its significant role in modern industrial processes.
Key Players:
- Umicore N.V.
- American Elements
- Yunnan Tin Group Company Limited
- Malaysia Smelting Corporation Berhad
- Minsur S.A.
- Thailand Smelting and Refining Co Ltd
News and recent development:
The U.S. Commerce Department announced that it will impose provisional anti-dumping taxes on imports of tin-plated steel from Canada, Germany, and China while exempting five other nations, providing some solace to the industry of food cans who had expected greater levies. The government announced that tin mill steel imported from China, including the nation’s largest producer, Baoshan Iron and Steel, will be subject to the highest provisional anti-dumping charges of 122.5%.
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