Tin Prices as of 30th April 2024
  • LME Tin 3-month 31216.00
  • LME Tin May 24 31306.00
  • LME Tin Jul 24 31206.00
  • LME Tin Aug 24 31206.00
  • LME Tin Sep 24 31185.00
  • LME Tin Oct 24 31135.00
  • LME Tin Nov 24 31670.00

Why Tin?

The global landscape is faced with rising geopolitical tensions, climate change urgency and a series of macroeconomic headwinds that are paving the way for the emergence of a new divided world, competing for vital resources such as tin. Regionalization of supply chains will lead to the establishment of new production centres that can produce critical minerals in a responsible manner.

MACRO


Divided & Competitive World
  • De-Globalization and geopolitical transitions driving regionalization
  • Intensifying US & China tensions (China has +60% of world's tin)
  • Emerged economies become new consumption centres
  • 1.3 billion more tin-using consumers in the middle class

SUSTAINABILITY


Securing a Sustainable Future
  • $5T/yr needed by 2030 to limit global warming to 1.5°C.
  • Companies measured by ESG performance & transparency
  • Align carbon reporting with net zero goals for tin users
  • Advantages of Small-Scale Tin Mining (40% Global Production):

TECHNOLOGY


The Revolution is Real
  • Tin surfs the data wave (artificial intelligence, machines, digitization)
  • Energy transition: Clime change brings new opportunities
  • Green tech & tin supply (recycling, waste mgmt., etc.)
  • Tin use proves mostly resistant to price pressure

MARKETS


A Wakeup to Tin
  • 50,000 tpa more tin needed for the technology supercycle
  • Investors will discover a new interest in tin
  • USD1 billion per year investment needed to reach tin demand
  • Geopolitical, environmental calls for diverse tin smelters.

Outlook

Tin price broke out of its trading range in early 2021 characterized by a depletion of inventory balances on LME exchanges, renewed demand due to emerging applications and risk-on sentiment in financial markets. Woodcross expects these themes to maintain and accelerate momentum in the tin market in the medium to long term. While tin prices have been trading sideways since the second half of FY2022, Woodcross expects momentum to pick up again as conditions in financial markets recover and risks associated with the a global recession fade. Geopolitical tensions in key producing nations and demand from China will be key factors to monitor in the short term.

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Outlook

Tin price broke out of its trading range in early 2021 characterized by a depletion of inventory balances on LME exchanges, renewed demand due to emerging applications and risk-on sentiment in financial markets. Woodcross expects these themes to maintain and accelerate momentum in the tin market in the medium to long term. While tin prices have been trading sideways since the second half of FY2022, Woodcross expects momentum to pick up again as conditions in financial markets recover and risks associated with the a global recession fade. Geopolitical tensions in key producing nations and demand from China will be key factors to monitor in the short term.

The typical U.S. household is spending $445 more a month due to inflation

"Tin has been part of the human story for thousands of years, a silent witness to our progress and a testament to our ingenuity."

Michael Bloomberg, An entrepreneur, former mayor of New York City and philanthropist
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