FX.co ★ Tin Rises to Over 3-Year High

In late November, tin futures surged to $38,000 per tonne, marking their highest level in over three years. This increase comes amid expectations of strong demand and limited supply from major producing countries. Even as mining quotas have been gradually reintroduced following a lengthy suspension in Myanmar, the largest producer, many key sources of tin production remain largely inactive. The critical Man Maw mine has stayed closed due to a resource audit, and its reopening is further delayed by regional bottlenecks, including the rainy season and significant infrastructure damage from a recent earthquake. Other major sources face challenges as well, particularly in Indonesia where President Subianto has decreed the closure of 1,000 illegal tin mines in Sumatra, thus reducing output from the world's second-largest supplier. On the consumption side, demand is projected to remain strong in the coming year, driven by the widespread use of tin in developing data centers and electrification technologies.