FX.co ★ Tin Soars to Near 3-Year High

Tin futures have climbed beyond $36,200 per tonne, marking the highest level since May 2022, fueled by supply disruption concerns in Myanmar and the Democratic Republic of Congo. An earthquake in Myanmar, the world’s third-largest tin producer, has sparked apprehensions about potential delays in resuming operations in Wa State, which contributes 70% to the nation’s tin production. This region had already halted mining activities in August 2023 and was scheduled to deliberate on reopening strategies by April 1. Concurrently, Alphamin Resources has ceased operations at one of the world’s largest tin mines in Congo due to rebel activity. These disruptions, along with low tin inventories in LME-registered warehouses, have led to a 24% increase in prices in the first quarter.