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Tin Prices Fall to US$22,800 per Ton on Wednesday, March 15, 2023
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The price of three-month tin contracts is currently declining. Based on trades monitored by Westmetall, the price of three-month tin contracts as of Wednesday, March 15, 2023, reached US$22,800 per ton.
Tin trade is down 9.52% compared to the beginning of the year and has experienced a year-on-year (YoY) decrease of 0.68%. The highest price for this commodity in 2023 was US$32,100 per ton, reached on January 27, 2023.
The average price for the year so far is US$26,880 per ton (January-March 2023 period). This is a 13.18% decrease, or a reduction of US$4,080.11 per ton, compared to the average price of the previous year.
Regarding the latest information on tin, the Government plans to increase the currently flat 3% tin royalty rate. The 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."
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