14.01.202610:35:13UTC+00Tin Surges to Record High

In January, tin futures in the UK soared to an unprecedented $49,500 per tonne, marking a record high not seen since 2022. This surge is attributed to strong demand coupled with expectations of limited supply. Contract prices surged across major exchanges as Chinese investors increased their holdings, driven by capital expenditures in data centers. This sector heavily relies on tin due to its essential soldering applications in computer manufacturing. Meanwhile, operations at the significant Man Maw mine have slowed significantly following its closure for a resource audit in 2023, a situation further exacerbated by infrastructure damage from a severe earthquake. Additionally, alternative supply sources faced challenges after Indonesian President Subianto mandated the shutdown of 1,000 illegal tin mines in Sumatra, thereby reducing output from the world's second-largest tin supplier.