Tin prices surged to above $24,800 per tonne for the first time since January 2013, supported by higher demand for electric vehicles, growth in US home building, and as remote working boosted demand for computers and other electronic devices. Demand is also surging in China, which is stockpiling the metal to meet its goal of self-sufficiency in semiconductors. Recently, a global shortage of empty shipping containers also disrupted the flow of refined tin. According to the International Tin Association, the global market has been in a supply deficit for the last three years. There is room for further upside momentum as the near-term supply gap can only come from expansion or revival of existing mines given the time it takes to get a permit for and dig a new mine.
Historically, Tin reached an all time high of 33265 in April of 2011. Tin - data, forecasts, historical chart - was last updated on February of 2021.
Tin is expected to trade at 25936.69 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 23569.56 in 12 months time.