Market of Refined Tin Metal Shows a Small Supply Deficit
But we expect consumption growth of Tin metal to accelerate in 2024 and 2025, driven by another pick-up in global electronics demand.
Demand Side of Tin Metals
Driven by a resurgence in global demand for electronics, demands on high purity tin will accelerate to 1.7% and 2.6% in 2024 and 2025, respectively. It will then slow again to around 1% in 2026, with annual consumption reaching a record high of 393,000 tons.
Supply Side of Tin Metals
The sharp fall in tin prices has slowed the growth of refined tin production to 1.9% in 2023, less than half growth rate of the previous year.
While consumption and prices are expected to improve in 2024-2026 as the economic cycle recovers, refined tin production is expected to lag due to mine production constraints, resulting in a small supply gap in the tin market in recent years.
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