Tin Prices Hit Record Levels

Tin prices hit record levels. The ton of tin rose as much as $33,745 on July17.

Despite the increase in demand, the limited supply made it inevitable to break new records in tin. Tin rose to $33,745 a ton, according to London Metal Exchange prices. Prices have increased by 66 percent since the beginning of the year. In 2011, tin prices broke the record of that period with 33 thousand 600 dollars. While demand increased as a result of the global economic recovery, there was price pressure in the tin market due to freight cuts and production problems, which limited supply from important Asian producers due to the pandemic. Alastair Munro, Marex Spectron Commodities sales manager, regarding the rally in tin, said, "Tin's rise is on track due to shipping logistics issues and supply pressures." Li Li, an analyst at Jinrui Futures Co, said that tin mills will reduce their production again after a new wave of power outages. In China's Yunnan province, production fell in May and June amid previous power outages.