Tin Price Monthly and Annualy

The Price of Tin in International Commodity Markets for April 2024 is 31,774.50 dollars per metric tonne, as estimated by the World Bank. In comparison to the previous month, March 2024, when Tin was valued at 27,450.46 dollars per metric tonne, there has been a net change of 4,324.040 dollars. This represents a percentage increase of 13.61%. Looking back to April 2023, the Tin price stood at 25,793.75 dollars per metric tonne. The current data reflects a dynamic market with a modest increase in Tin prices from April 2023 to April 2024, signaling potential shifts in global economic trends.

Tin Price in Last 12 Months World Bank

Source: World-bank
Last Updated: 25 May 2024
Index Last 12 Months Nominal US Dollars($/mt) Net-Chg Percentage-Chg
13April 2023$ 25,793.75--
12May 2023$ 25,533.80 $ -259.95-1.02 %
11June 2023$ 27,216.68 $ 1,682.886.18 %
10July 2023$ 28,743.14 $ 1,526.465.31 %
9August 2023$ 26,074.87 $ -2,668.27-10.23 %
8September 2023$ 25,573.93 $ -500.94-1.96 %
7October 2023$ 24,536.07 $ -1,037.86-4.23 %
6November 2023$ 24,167.86 $ -368.21-1.52 %
5December 2023$ 24,600.26 $ 432.401.76 %
4January 2024$ 25,099.84 $ 499.581.99 %
3February 2024$ 26,104.10 $ 1,004.263.85 %
2March 2024$ 27,450.46 $ 1,346.364.90 %
1April 2024$ 31,774.50 $ 4,324.0413.61 %

Tin Price Annual World Bank

Tin Price in 2023 was 25,938.11 dollars per metric tonne estimated by the world bank.

In the previous year, 2022 Tin Price was 31,335.41 dollars per metric tonne. The net change in Tin Price in 2023 was -5397.3 dollars which is about a -20.81% decrease in price.

Source: World-bank
Year Price Nominal US Dollars($/mt) Net-ChangePercentage-Change
1960 $ 2,196.73--
1961 $ 2,449.89 $ 253.1610.33 %
1962 $ 2,471.38 $ 21.490.87 %
1963 $ 2,507.73 $ 36.351.45 %
1964 $ 3,412.74 $ 905.0126.52 %
1965 $ 3,890.78 $ 478.0412.29 %
1966 $ 3,573.51 $ -317.27-8.88 %
1967 $ 3,308.03 $ -265.48-8.03 %
1968 $ 3,126.88 $ -181.15-5.79 %
1969 $ 3,427.45 $ 300.578.77 %
1970 $ 3,673.45 $ 246.006.70 %
1971 $ 3,511.97 $ -161.48-4.60 %
1972 $ 3,739.96 $ 227.996.10 %
1973 $ 4,802.20 $ 1,062.2422.12 %
1974 $ 8,184.27 $ 3,382.0741.32 %
1975 $ 6,876.58 $ -1,307.69-19.02 %
1976 $ 7,585.54 $ 708.969.35 %
1977 $ 10,804.45 $ 3,218.9129.79 %
1978 $ 12,875.21 $ 2,070.7616.08 %
1979 $ 15,447.41 $ 2,572.2016.65 %
1980 $ 16,774.88 $ 1,327.477.91 %
1981 $ 14,159.13 $ -2,615.75-18.47 %
1982 $ 12,825.80 $ -1,333.33-10.40 %
1983 $ 12,987.97 $ 162.171.25 %
1984 $ 12,233.49 $ -754.48-6.17 %
1985 $ 11,539.04 $ -694.45-6.02 %
1986 $ 6,161.37 $ -5,377.67-87.28 %
1987 $ 6,664.83 $ 503.467.55 %
1988 $ 7,051.63 $ 386.805.49 %
1989 $ 8,534.43 $ 1,482.8017.37 %
1990 $ 6,085.38 $ -2,449.05-40.24 %
1991 $ 5,595.04 $ -490.34-8.76 %
1992 $ 6,101.03 $ 505.998.29 %
1993 $ 5,161.14 $ -939.89-18.21 %
1994 $ 5,463.85 $ 302.715.54 %
1995 $ 6,213.81 $ 749.9612.07 %
1996 $ 6,165.08 $ -48.73-0.79 %
1997 $ 5,646.77 $ -518.31-9.18 %
1998 $ 5,540.33 $ -106.44-1.92 %
1999 $ 5,403.62 $ -136.71-2.53 %
2000 $ 5,435.71 $ 32.090.59 %
2001 $ 4,484.44 $ -951.27-21.21 %
2002 $ 4,060.50 $ -423.94-10.44 %
2003 $ 4,894.90 $ 834.4017.05 %
2004 $ 8,512.73 $ 3,617.8342.50 %
2005 $ 7,379.83 $ -1,132.90-15.35 %
2006 $ 8,780.83 $ 1,401.0015.96 %
2007 $ 14,536.83 $ 5,756.0039.60 %
2008 $ 18,510.09 $ 3,973.2621.47 %
2009 $ 13,573.88 $ -4,936.21-36.37 %
2010 $ 20,405.62 $ 6,831.7433.48 %
2011 $ 26,053.68 $ 5,648.0621.68 %
2012 $ 21,125.99 $ -4,927.69-23.33 %
2013 $ 22,282.80 $ 1,156.815.19 %
2014 $ 21,898.87 $ -383.93-1.75 %
2015 $ 16,066.63 $ -5,832.24-36.30 %
2016 $ 17,933.76 $ 1,867.1310.41 %
2017 $ 20,061.17 $ 2,127.4110.60 %
2018 $ 20,145.21 $ 84.040.42 %
2019 $ 18,661.16 $ -1,484.05-7.95 %
2020 $ 17,124.60 $ -1,536.56-8.97 %
2021 $ 32,384.15 $ 15,259.5547.12 %
2022 $ 31,335.41 $ -1,048.74-3.35 %
2023 $ 25,938.11 $ -5,397.30-20.81 %

Introduction

In today's global economy, commodities play a crucial role in various industries. One such essential commodity is tin. Tin is widely used in electronics, packaging, soldering, and many other applications.

The Importance of Tin in Industries

Tin is a versatile metal that finds its applications across multiple industries. It is primarily used in the production of solder, which is crucial for electronic devices and circuitry. Additionally, tin is used for coating steel and other metals to prevent corrosion, making it essential for the packaging industry. It's low toxicity and resistance to oxidation makes it ideal for food and beverage canning. With such diverse applications, the demand for tin remains steady, influencing its price in the market.

Historical Overview of Tin Price

To understand the current dynamics of tin prices, it is essential to examine its historical performance. Over the years, tin prices have experienced significant fluctuations due to various factors such as supply disruptions, changes in demand, and global economic conditions. These price fluctuations impact the profitability of tin mining companies and the cost of raw materials for end-users.

Supply and Demand Dynamics

The interplay between supply and demand is a critical factor in determining the price of tin. Tin production is concentrated in a few countries, with China, Indonesia, and Myanmar being the largest producers. Any disruptions in these regions, such as changes in mining regulations or political instability, can impact the global supply of tin and lead to price volatility. Similarly, changes in consumer demand, influenced by economic growth and technological advancements, can affect the market equilibrium.

Tin Mining and Production

Tin is primarily obtained through mining activities. Traditional mining methods involve extracting tin ore from underground or alluvial deposits. However, advancements in mining technology have allowed for more efficient extraction methods, such as open-pit mining and dredging. The exploration and development of new tin deposits are crucial for maintaining a stable supply and meeting the growing demand.

Technological Advancements in Tin Extraction

Technological innovations in tin extraction have contributed to the efficiency and sustainability of the mining process. These advancements include the use of automated machinery, improved ore processing techniques, and the adoption of environmentally friendly practices. Enhanced extraction methods not only increase productivity but also reduce the environmental impact of mining operations.

International Trade and Tin Price Fluctuations

Tin is a globally traded commodity, and international market dynamics heavily influence its price. Changes in trade policies, tariffs, and geopolitical factors can disrupt the supply chain and affect the cost of tin. Moreover, fluctuations in currency exchange rates can impact the competitiveness of tin-exporting countries and, consequently, the global price of tin.

Economic Factors Affecting Tin Price

The global economic landscape plays a significant role in shaping the tin market. Economic factors such as GDP growth, industrial production, and consumer spending patterns influence the demand for tin-based products. Economic downturns can lead to reduced demand, resulting in lower tin prices. Conversely, periods of economic expansion often drive up the demand for tin, thereby increasing its price.

Environmental and Political Influences

Environmental regulations and political stability are crucial determinants of tin prices. Increasing concerns about sustainability and environmental impact have led to stricter regulations on mining practices. Compliance with these regulations can increase production costs and, in turn, affect the price of tin. Additionally, political stability in major tin-producing regions ensures a consistent supply, preventing significant price disruptions.

Future Outlook for Tin Price

The future outlook for tin price depends on a multitude of factors, including technological advancements, market demand, and global economic conditions. As industries continue to evolve and new applications for tin emerge, the demand for this metal is expected to grow. However, challenges such as resource depletion and environmental sustainability must be addressed to ensure a stable supply and price equilibrium.

Conclusion

In conclusion, the price of tin is influenced by a complex interplay of factors, including supply and demand dynamics, economic conditions, technological advancements, international trade, and environmental considerations. By staying informed about market trends and adapting to changing dynamics, stakeholders can make informed decisions and effectively manage their exposure to tin price fluctuations.