China: Tin Market 2024

Tin Market Size in China

The Chinese tin market expanded to $X in 2022, increasing by 4.8% against the previous year. In general, consumption, however, recorded a noticeable descent. Tin consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Tin Production in China

In value terms, tin production expanded markedly to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2019 when the production volume increased by 64% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Tin Exports

Exports from China

Tin exports from China plummeted to X tons in 2022, with a decrease of -27.9% on the previous year. Overall, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 233%. As a result, the exports attained the peak of X tons, and then reduced markedly in the following year.

In value terms, tin exports dropped dramatically to $X in 2022. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 438%. As a result, the exports reached the peak of $X, and then shrank dramatically in the following year.

Exports by Country

The Netherlands (X tons), South Korea (X tons) and Japan (X tons) were the main destinations of tin exports from China, together comprising 47% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +109.1%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), South Korea ($X) and Japan ($X) were the largest markets for tin exported from China worldwide, with a combined 48% share of total exports.

South Korea, with a CAGR of +120.6%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tin export price stood at $X per ton in 2022, surging by 7.6% against the previous year. Overall, the export price saw a notable expansion. The growth pace was the most rapid in 2021 an increase of 62% against the previous year. The export price peaked 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 South Korea ($X per ton), while the average price for exports to the United Arab Emirates ($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 Italy (+19.6%), while the prices for the other major destinations experienced more modest paces of growth.

Tin Imports

Imports into China

In 2022, supplies from abroad of tin decreased by -7.1% to X tons, falling for the second year in a row after two years of growth. Overall, imports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2020 when imports increased by 516% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, tin imports shrank to $X in 2022. Over the period under review, imports recorded a deep contraction. The pace of growth was the most pronounced in 2020 with an increase of 464%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest supplier of tin to China, with a 78% share of total imports. Moreover, tin imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), sixfold. Peru (X tons) ranked third in terms of total imports with a 7% share.

From 2012 to 2022, the average annual growth rate of volume from Indonesia totaled -13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-26.0% per year) and Peru (+987.3% per year).

In value terms, Indonesia ($X) constituted the largest supplier of tin to China, comprising 80% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 12% share of total imports. It was followed by Peru, with a 4.6% share.

From 2012 to 2022, the average annual growth rate of value from Indonesia stood at -10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-23.3% per year) and Peru (+947.7% per year).

Import Prices by Country

In 2022, the average tin import price amounted to $X per ton, rising by 6.2% against the previous year. In general, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.9% 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 +79.6% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by 69%. The import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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