Tin futures rebounded toward $27,000 per tonne, after a massive selloff that saw the commodity price tumble more than 22% to a 14-month low on concerns slowing economic growth and persistent coronavirus outbreaks in top consumer China will dampen demand. Meanwhile, China announced the ease of Covid restrictions in Shanghai and Beijing and shortened the quarantine time for inbound visitors. Tin prices remain well above pre-pandemic levels amid rising demand from the electronics sector, where tin is used for circuit board manufacturing. Elsewhere, Malaysia Smelting, one of the world’s biggest tin producers, said it will increase its production by 20% over the next couple of years.
Historically, Tin reached an all time high of 49400 in March of 2022. Tin - data, forecasts, historical chart - was last updated on June of 2022.
Tin is expected to trade at 23901.48 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 21949.03 in 12 months time.