Tin prices exhibited improvement in Q1 and Q2 2023 due to robust global demand and limited supply. Depleted inventories resulted from disrupted supply chains, supporting the upward trend. Maintenance in Asia Pacific production plants affected supply, though existing inventories met reduced demand. Concerns arose from oscillations in the electronics market, a key driver for tin. Slow recovery in semiconductors and electronics impacted tin’s overall demand outlook, influencing its price growth.
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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.
Industrial Uses Impacting the Tin Price Trend:
Tin finds versatile industrial applications owing to its favorable properties. Its corrosion resistance and low melting point make it essential in the production of solder, used for joining electrical components. Tin-plating enhances the longevity of metals by preventing corrosion, seen in food packaging, cans, and metal objects. Tin-based alloys like bronze and pewter are utilized for creating durable, decorative items. The electronics industry relies on tin for soldering circuit components. Tin is crucial for manufacturing glass, ceramics, and enamel coatings. Its non-toxic nature also finds applications in dental amalgams and cosmetics. Its adaptability in various sectors underscores tin’s 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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