Tin prices have been rising towards the $26,000 per tonne level, up almost 30% so far this year and within striking distance from February’s 10-year high of $26,870 amid tightness in the physical supply chain in both the US and Europe while flows from Asia have been disrupted by backlogs in the container shipping market. Meantime, consumption continues to run strong due to higher demand for electric vehicles, growth in US home building, and as remote working boosted demand for computers and other electronic devices. According to the International Tin Association, the global market has been in a supply deficit for the last three years. There is room for further upside momentum as the near-term supply gap can only come from expansion or revival of existing mines given the time it takes to get a permit for and dig a new mine.
