Tuesday, November 24, 2015

Tin Mineral Products and Consumption Globally 2015

World Tin Consumption

Apparent consumption of tin in the United States increased by 6% in 2014 compared with consumption in 2013. Peru remained the primary supplier of tin to the United States, and recycling rates of tin remained unchanged from those in 2013. While the estimated annual prices for tin declined slightly, they continued to fluctuate through several cycles. The New York dealer price averaged 1,028 cents per pound in January and, coinciding with new export restrictions in Indonesia, rose to an average of 1,095 cents per pound in April, the highest monthly level since August 2011. By October, however, the average price had fallen back below 1,000 cents per pound as supply shortages failed to materialize. Platts Metals Composite prices for tin were discontinued in 2014, and the U.S. Geological Survey will use the New York Dealer price for future calculations.

See also : Summary of thorium mineral commodities globally 2015

In 2013, Indonesia, the world’s leading exporter of tin, created the Indonesia Tin Exchange (ICDX) to allow tin to be traded within Indonesia, and also reduce reliance on foreign trading houses for prices. In 2014, Indonesia modified their new regulations of tin exports involving the ICDX. The primary modification was restricting tin content in solder to a maximum of 99.9% tin, preventing pure tin ingots being sold as solder. This regulation is an attempt to ensure that correct taxes and fees are applied to tin exports from Indonesia and the ICDX. This regulation had the dual effect of raising tin solder prices, and improving tracking of exports from Indonesia. However, the London Metal Exchange remains the largest market for tin options and futures, and it continues to influence the price of tin, dampening the impact of the new ICDX regulations.

See also : Summary of cobalt mineral commodities 2015

World Tin Mine Production and Reserves

Tin Reserves figures were revised for Brazil based on new data from the Instituto Brasileiro de Mineração. Reserves figures for Peru were revised based on data from the Ministerio de Energiay Minas del Perú. Reserves figures for Australia were revised based on data from Geoscience Australia.

Tin mineral products globally 2015
World Mine Production and Reserves (source: U.S. Geological Survey).

See also :  Summary of silver mineral commodities 2015

World Tin Resources

U.S. identified resources of tin, primarily in Alaska, were insignificant compared with those of the rest of the world. World resources, principally in western Africa, southeastern Asia, Australia, Bolivia, Brazil, China, Indonesia, and Russia, are extensive and, if developed, could sustain recent annual production rates well into the future.

Tin Substitutes

Aluminum, glass, paper, plastic, or tin-free steel substitute for tin in cans and containers. Other materials that substitute for tin are epoxy resins for solder; aluminum alloys, copper-base alloys, and plastics for bronze; plastics for bearing metals that contain tin; and compounds of lead and sodium for some tin chemicals.

Sources: U.S. Geological Survey, Mineral commodity summaries 2015, 169 p.

Delivered by FeedBurner