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06.01.202614:42:57UTC+00Tin Rises Toward 3-Year High

In January, tin futures in the UK climbed to $42,450 per tonne, nearing the three-year high of $43,300 set just three weeks earlier. This increase aligns with a broader trend observed in other base metals, driven by concerns over supply constraints. Activity at the pivotal Man Maw mine remained subdued following its closure for a resource audit in 2023, a situation exacerbated by infrastructure damage from a recent severe earthquake in the region. Simultaneously, the industry in Indonesia faced setbacks after President Subianto mandated the shutdown of 1,000 illegal tin mines in Sumatra, impacting production from the world's second-largest tin supplier. Additionally, a rise in data center investments by AI companies across the US, Asia, and Europe has fueled speculative interest in tin, given the metal's critical role in circuit board manufacturing.

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