The tin market has yet to solve the supply-demand imbalance evident throughout this year, but artisanal mining has become an even more crucial part of the market, panelists at the AMT Virtual Tin Market Forum noted on October 6.
Thethree-month tin price on the London Metal Exchange has traded on average above$30,000 per tonne since June, rising by around 70% since January of thisyear. The steepprice rise has been largely attributed to steady demand - and supply not being able to catch up to it. Theproblem was exacerbated by the Covid-19 pandemic and the output shortage from the Malaysian Smelting Corp (MSC), which declared force majeure in June due to the resulting lockdown.
Some major producers have thrived: "We've been quite lucky in the way that we can't sell enough - the demand for tin has been very strongand seems to continue regardless of the pandemic," said Andrew Davis, managingdirector of Thaisarco, the second-largest tin producer...