Tin's Price in International Commodity Markets in October 2023 is about 24,536.07 dollars per metric tonne estimated by World Bank. In the Previous Month, September 2023 Tin's worth was 25,573.93 dollars per metric tonne. Last year in October 2022 the price was 19,391.17 dollars per metric tonne.
| Index | Last 12 Months | Nominal US Dollars($/mt) | Net-Chg | Percentage-Chg |
|---|---|---|---|---|
| 13 | October 2022 | $ 19,391.17 | - | - |
| 12 | November 2022 | $ 21,249.50 | $ 1,858.33 | 8.75 % |
| 11 | December 2022 | $ 24,172.37 | $ 2,922.87 | 12.09 % |
| 10 | January 2023 | $ 28,154.14 | $ 3,981.77 | 14.14 % |
| 9 | February 2023 | $ 26,862.90 | $ -1,291.24 | -4.81 % |
| 8 | March 2023 | $ 23,999.96 | $ -2,862.94 | -11.93 % |
| 7 | April 2023 | $ 25,793.75 | $ 1,793.79 | 6.95 % |
| 6 | May 2023 | $ 25,533.80 | $ -259.95 | -1.02 % |
| 5 | June 2023 | $ 27,216.68 | $ 1,682.88 | 6.18 % |
| 4 | July 2023 | $ 28,743.14 | $ 1,526.46 | 5.31 % |
| 3 | August 2023 | $ 26,074.87 | $ -2,668.27 | -10.23 % |
| 2 | September 2023 | $ 25,573.93 | $ -500.94 | -1.96 % |
| 1 | October 2023 | $ 24,536.07 | $ -1,037.86 | -4.23 % |
Tin Price in 2022 was 31,335.41 dollars per metric tonne estimated by the world bank. In the previous year, 2021 Tin Price was 32,384.15 dollars per metric tonne. The net change in Tin Price in 2022 was -1,048.74 dollars which is about a -3.35 % decrease in price.
| Year | Price Nominal US Dollars($/mt) | Net-Change | Percentage-Change |
|---|---|---|---|
| 1960 | $ 2,196.73 | - | - |
| 1961 | $ 2,449.89 | $ 253.16 | 10.33 % |
| 1962 | $ 2,471.38 | $ 21.49 | 0.87 % |
| 1963 | $ 2,507.73 | $ 36.35 | 1.45 % |
| 1964 | $ 3,412.74 | $ 905.01 | 26.52 % |
| 1965 | $ 3,890.78 | $ 478.04 | 12.29 % |
| 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 | $ 300.57 | 8.77 % |
| 1970 | $ 3,673.45 | $ 246.00 | 6.70 % |
| 1971 | $ 3,511.97 | $ -161.48 | -4.60 % |
| 1972 | $ 3,739.96 | $ 227.99 | 6.10 % |
| 1973 | $ 4,802.20 | $ 1,062.24 | 22.12 % |
| 1974 | $ 8,184.27 | $ 3,382.07 | 41.32 % |
| 1975 | $ 6,876.58 | $ -1,307.69 | -19.02 % |
| 1976 | $ 7,585.54 | $ 708.96 | 9.35 % |
| 1977 | $ 10,804.45 | $ 3,218.91 | 29.79 % |
| 1978 | $ 12,875.21 | $ 2,070.76 | 16.08 % |
| 1979 | $ 15,447.41 | $ 2,572.20 | 16.65 % |
| 1980 | $ 16,774.88 | $ 1,327.47 | 7.91 % |
| 1981 | $ 14,159.13 | $ -2,615.75 | -18.47 % |
| 1982 | $ 12,825.80 | $ -1,333.33 | -10.40 % |
| 1983 | $ 12,987.97 | $ 162.17 | 1.25 % |
| 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 | $ 503.46 | 7.55 % |
| 1988 | $ 7,051.63 | $ 386.80 | 5.49 % |
| 1989 | $ 8,534.43 | $ 1,482.80 | 17.37 % |
| 1990 | $ 6,085.38 | $ -2,449.05 | -40.24 % |
| 1991 | $ 5,595.04 | $ -490.34 | -8.76 % |
| 1992 | $ 6,101.03 | $ 505.99 | 8.29 % |
| 1993 | $ 5,161.14 | $ -939.89 | -18.21 % |
| 1994 | $ 5,463.85 | $ 302.71 | 5.54 % |
| 1995 | $ 6,213.81 | $ 749.96 | 12.07 % |
| 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 | $ 32.09 | 0.59 % |
| 2001 | $ 4,484.44 | $ -951.27 | -21.21 % |
| 2002 | $ 4,060.50 | $ -423.94 | -10.44 % |
| 2003 | $ 4,894.90 | $ 834.40 | 17.05 % |
| 2004 | $ 8,512.73 | $ 3,617.83 | 42.50 % |
| 2005 | $ 7,379.83 | $ -1,132.90 | -15.35 % |
| 2006 | $ 8,780.83 | $ 1,401.00 | 15.96 % |
| 2007 | $ 14,536.83 | $ 5,756.00 | 39.60 % |
| 2008 | $ 18,510.09 | $ 3,973.26 | 21.47 % |
| 2009 | $ 13,573.88 | $ -4,936.21 | -36.37 % |
| 2010 | $ 20,405.62 | $ 6,831.74 | 33.48 % |
| 2011 | $ 26,053.68 | $ 5,648.06 | 21.68 % |
| 2012 | $ 21,125.99 | $ -4,927.69 | -23.33 % |
| 2013 | $ 22,282.80 | $ 1,156.81 | 5.19 % |
| 2014 | $ 21,898.87 | $ -383.93 | -1.75 % |
| 2015 | $ 16,066.63 | $ -5,832.24 | -36.30 % |
| 2016 | $ 17,933.76 | $ 1,867.13 | 10.41 % |
| 2017 | $ 20,061.17 | $ 2,127.41 | 10.60 % |
| 2018 | $ 20,145.21 | $ 84.04 | 0.42 % |
| 2019 | $ 18,661.16 | $ -1,484.05 | -7.95 % |
| 2020 | $ 17,124.60 | $ -1,536.56 | -8.97 % |
| 2021 | $ 32,384.15 | $ 15,259.55 | 47.12 % |
| 2022 | $ 31,335.41 | $ -1,048.74 | -3.35 % |
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.
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.
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.
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 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 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.
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.
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 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.
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.
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.