Tin demand is recovering, helped by rising electronics sales as more people stay at home due to the COVID-19 pandemic, and is set to rise by about 6% next year, the International Tin Association ("ITA") forecast last Thursday.
The biggest use of tin, making up nearly half of demand, is for solder used chiefly in the electronics industry to connect components.
Buoyant house building in the United States is also brightening the outlook for the metal since cladding using tin is popular there.
Tin demand is due to rise by about 6% to 361,500 tonnes next year, while refined tin production is also forecast to recover as smelters restart after closures due to the COVID-19.
This year, demand is expected to fall by 5.8% as lockdowns to curb the COVID-19 initially hit sales.
A deficit in the global tin market is expected to narrow to 2,700 tonnes next year from a 5,200 tonne deficit in 2020, Willoughby said.
Below are the latest ITA forecasts in tonnes:
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Below are the latest ITA forecasts in tonnes:
2019
2020
2021
Refined production
353,900
333,700
358,800
Refined consumption
359,600
338,900
361,500
Market balance
-5,700
-5,200
-2,700
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2019
|
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2021
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| .Asian Metal Copyright4pt;"> Refined production
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|
333,700
|
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|
| Refined consumption
|
359,600
|
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|
361,500
|
| Market balance
|
-5,700
|
-5,200
|
-2,700
|
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The biggest use of tin, making up nearly half of demand, is for solder used chiefly in the electronics industry to connect components.
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