Price Forecast Report
Price Forecast Report
Tin plate prices are projected to continue rising in the coming months, driven by the inclining prices of the feedstock metal tin. The global tin supply has been constricted due to mining and export restrictions in the Wa region of Myanmar, which accounts for around one-sixth of global tin supplies. Feedstock tin prices have been ascending from the past few months and hit a two-year high in April '24, impacting the upstream costs and pushing up tin plate prices. Myanmar introduced a 30 percent in-kind tax in February on all grades of tin concentrate exports following the closure of several mines last year for conservation and pollution-reduction reasons.
The tin plate market has been highly volatile in Q1 2024, primarily due to disruptions in the global tin supply chain. Myanmar, a major tin source, continues to face operational shutdowns and a new 30% in-kind tax on tin concentrate exports since February 2024, drastically reducing raw tin availability. Indonesia, another key player, has experienced severe export delays due to licensing issues, with virtually no trading activity on the Indonesia Commodity Derivatives Exchange (ICDX) and the Jakarta Futures Exchange (JFX) since the year's start, exacerbating the global supply strain. This supply crunch, coupled with a robust rebound in manufacturing activities and tin plate demand in major economies, has led to significant inventory reductions within the tin plate industry, with stocks reportedly halved compared to the previous year. The market remains sensitive to ongoing issues such as the potential resumption of mining operations in Myanmar and Indonesia's consideration of domestic reservation policies.
The tin plate market is poised for significant growth in 2024, driven by elevated tin prices due to ongoing supply concerns. Despite recently dropping from two-year highs, tin prices are expected to remain high throughout the year. Persistent supply constraints in Myanmar and Indonesia, representing 40% of global tin production, contributed to an approximate 7% tin price increase in Q1 2024 and further strengthening in April. The tight supply conditions, coupled with potential economic stimuli from the Chinese government to revitalize the property sector and a rebound in Chinese and US manufacturing, as well as a recovery in global semiconductor sales, are bolstering tin consumption. While short-term price adjustments are expected, the long-term outlook remains bullish due to robust demand and tight market conditions.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1. Executive Summary
2. Introduction
2.1 Overview
2.2 Forecasting Methodology
2.3 Key Industry Trends
3. Historical Price Data and Analysis
3.1 Price Trends Over the Past 3 Years
3.2 Key Influencing Factors
3.3 Visualizations and Trend Analysis
4. Supply and Demand Analysis
4.1 Historical Supply Dynamics (2021-2023)
4.2 Historical Demand Dynamics (2021-2023)
4.3 Future Supply and Demand Projections (2024-2025)
4.4 Feedstock Market Insights (2021-2023)
7. Latest Industry News
7.1 Recent Developments
7.2 Geopolitical Events
7.3 Insights From Government Data And Industry Bodies
8. Key Macroeconomic Indicators
8.1 GDP Growth
8.2 Inflation Rates
8.3 Currency Exchange Rates
8.4 Impact on Commodity Prices
9. Price Outlook
9.1 Long-Term Price Forecast (Next 2 Years)
9.2 Scenario Analysis
9.3 Potential Price Fluctuations
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