In the first and second quarters of 2023, tin prices saw an uptick propelled by strong worldwide demand and constrained supply. Disrupted supply chains led to diminished inventories, reinforcing the upward trajectory. The supply was affected by maintenance in production plants across the Asia Pacific, yet available inventories were sufficient to meet the decreased demand. Apprehensions emerged from fluctuations in the electronics market, a pivotal factor for tin. The sluggish recovery in semiconductors and electronics had a bearing on tin’s overall demand prospects, influencing its price escalation.
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Definition
Tin, identified by the chemical symbol Sn and atomic number 50, is a pliable, silvery-white metal with a low melting point. Renowned for its malleability and resistance to corrosion, tin finds diverse applications. It readily forms alloys, such as bronze and pewter, employed for both decorative and industrial uses. The metal’s low toxicity renders it suitable for manufacturing food packaging and utensils. Additionally, tin oxide, its main oxide, serves as a transparent conductor in electronic devices such as 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.
Industrial Uses Impacting the Tin Price Trend:
Tin’s favorable properties render it highly versatile in industrial applications. Its corrosion resistance and low melting point play a crucial role in the production of solder, which is essential for joining electrical components. The longevity of metals is enhanced through tin-plating, preventing corrosion in items such as food packaging, cans, and various metal objects. Durable and decorative items are crafted using tin-based alloys like bronze and pewter. In the electronics industry, tin is indispensable for soldering circuit components. Furthermore, tin is a key element in the manufacturing of glass, ceramics, and enamel coatings. Its non-toxic nature makes it suitable for applications in dental amalgams and cosmetics. The adaptability of tin across various sectors underscores 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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