Canada: Tin Market 2024

Tin Market Size in Canada

The Canadian tin market declined significantly to $X in 2022, shrinking by -26.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then dropped notably in the following year.

Tin Exports

Exports from Canada

In 2022, overseas shipments of tin increased by 65% to X tons, rising for the third consecutive year after three years of decline. In general, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 when exports increased by 1,885%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, tin exports surged to $X in 2022. Over the period under review, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 2,155% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for tin exports from Canada, accounting for a 76% share of total exports. Moreover, tin exports to the United States exceeded the volume sent to the second major destination, Belgium (X tons), fivefold. The third position in this ranking was taken by Poland (X tons), with a 5.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+19.0% per year) and Poland (+0.8% per year).

In value terms, the United States ($X) remains the key foreign market for tin exports from Canada, comprising 86% of total exports. The second position in the ranking was held by Poland ($X), with a 7.6% share of total exports. It was followed by Belgium, with a 5.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +22.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (-3.6% per year) and Belgium (+11.7% per year).

Export Prices by Country

In 2022, the average tin export price amounted to $X per ton, picking up by 9.2% against the previous year. In general, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tin export price increased by +90.8% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 54%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3.9%), while the prices for the other major destinations experienced mixed trend patterns.

Tin Imports

Imports into Canada

In 2022, the amount of tin imported into Canada shrank remarkably to X tons, which is down by -32.5% compared with the year before. In general, imports recorded a mild decline. The most prominent rate of growth was recorded in 2021 with an increase of 77% against the previous year. As a result, imports reached the peak of X tons, and then contracted notably in the following year.

In value terms, tin imports fell to $X in 2022. Over the period under review, imports, however, showed a temperate increase. The most prominent rate of growth was recorded in 2021 when imports increased by 162%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

Peru (X tons), Bolivia (X tons) and the United States (X tons) were the main suppliers of tin imports to Canada, together comprising 94% of total imports.

From 2012 to 2022, the biggest increases were recorded for Bolivia (with a CAGR of +38.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tin suppliers to Canada were Bolivia ($X), Peru ($X) and the United States ($X), with a combined 95% share of total imports. Indonesia and the UK lagged somewhat behind, together comprising a further 3.2%.

In terms of the main suppliers, the UK, with a CAGR of +37.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average tin import price stood at $X per ton in 2022, with an increase of 28% against the previous year. In general, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tin import price increased by +96.2% against 2019 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by 52%. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Indonesia ($X per ton) and the United States ($X per ton), while the price for the UK ($X per ton) and Peru ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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