Tin Prices Rise to US$23,850 per Ton on Thursday, March 23, 2023

Agus Dwi Darmawan 24/03/2023 10:37 WIB

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Tin Prices Rise to US$23,850 per Ton on Thursday, March 23, 2023

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Three-Month Tin Contract Price Update

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The price of three-month tin contracts is currently rising. Based on trades monitored by Westmetall, the price of three-month tin contracts reached US$23,850 per ton on Thursday, March 23, 2023.

Tin trading is down 5.36% compared to the beginning of the year and has experienced a year-on-year decrease of 0.55%. The highest price for this commodity in 2023 was US$32,100 per ton, reached on January 27, 2023.

The average tin price this year is recorded at US$26,480 per ton. This is a 14.47% decrease from the previous year, which stood at US$30,960 per ton in 2022.

Regarding the latest information on tin, the government plans to increase the currently flat 3% tin royalty rate. The planned increase will be implemented progressively, and the exact figures are currently under discussion with industry players.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."