CIS: Tin Market 2024

Tin Market Size in CIS

In 2022, the CIS tin market increased by 17% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Tin Production in CIS

In value terms, tin production shrank to $X in 2022 estimated in export price. Over the period under review, production recorded a noticeable contraction. The pace of growth was the most pronounced in 2021 when the production volume increased by 15% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Tin Exports

Exports in CIS

Tin exports reduced to X tons in 2022, dropping by -8.4% compared with the previous year's figure. In general, exports, however, continue to indicate a noticeable expansion. The most prominent rate of growth was recorded in 2020 with an increase of 81% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tin exports dropped significantly to $X in 2022. Over the period under review, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2018 when exports increased by 144% against the previous year. The level of export peaked at $X in 2021, and then fell significantly in the following year.

Exports by Country

In 2022, Russia (X tons) was the largest exporter of tin in the CIS, generating 99.9% of total export.

Russia was also the fastest-growing in terms of the tin exports, with a CAGR of +7.5% from 2012 to 2022. Russia (+40 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) also remains the largest tin supplier in the CIS.

In Russia, tin exports expanded at an average annual rate of +7.7% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per ton, falling by -9% against the previous year. Export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +3.2% 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 +37.7% against 2020 indices. The growth pace was the most rapid in 2018 when the export price increased by 70%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Russia.

From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to +0.1% per year.

Tin Imports

Imports in CIS

In 2022, overseas purchases of tin increased by 14% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, showed a pronounced downturn. The pace of growth was the most pronounced in 2018 when imports increased by 74%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, tin imports skyrocketed to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 95%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Russia (X tons) and Kazakhstan (X tons) represented the largest importers of tin in 2022, accounting for approx. 45% and 33% of total imports, respectively. Belarus (X tons) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Uzbekistan (10%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Uzbekistan (with a CAGR of +35.7%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Kazakhstan ($X), Russia ($X) and Belarus ($X) constituted the countries with the highest levels of imports in 2022, together comprising 86% of total imports. These countries were followed by Uzbekistan, which accounted for a further 14%.

Among the main importing countries, Uzbekistan, with a CAGR of +51.7%, saw the highest rates of growth with regard to 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

In 2022, the import price in the CIS amounted to $X per ton, picking up by 15% against the previous year. Import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +5.7% 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 +92.8% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 68%. The level of import peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+11.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :