Tin Prices, Trends & Forecasts | Provided by Procurement Resource
The Tin Price Index demonstrated notable improvement during the first and second quarters of 2023, buoyed by strong global demand and constrained supply. Disrupted supply chains led to depleted inventories, further bolstering the upward trajectory of tin prices. Maintenance activities in Asia Pacific production plants contributed to supply challenges, although existing inventories managed to meet the subdued demand. However, concerns emerged from fluctuations in the electronics market, a significant driver for tin demand. The sluggish recovery observed in semiconductors and electronics exerted pressure on the overall demand outlook for tin, thereby influencing its price escalation.
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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 Price chart, 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.
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Industrial Uses Impacting the Tin Price Trend:
Tin boasts versatile industrial applications due to its advantageous properties. Its corrosion resistance and low melting point render it indispensable in solder production, crucial for joining electrical components. Tin-plating plays a vital role in prolonging the lifespan of metals by preventing corrosion, commonly observed in food packaging, cans, and various metal objects. Additionally, tin-based alloys such as bronze and pewter are utilized for crafting durable and decorative items. The electronics industry heavily relies on tin for soldering circuit components. Moreover, tin is essential in the manufacturing of glass, ceramics, and enamel coatings. Its non-toxic nature makes it suitable for applications in dental amalgams and cosmetics. The broad adaptability of tin across various sectors highlights its significance 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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