Eastern Asia: Tin Market 2024

Tin Market Size in Eastern Asia

In 2022, the East Asian tin market increased by 3.6% to $X, rising for the fourth consecutive year after two years of decline. In general, consumption recorded a slight curtailment. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Tin Production in Eastern Asia

In value terms, tin production rose rapidly to $X in 2022 estimated in export price. Over the period under review, production showed a noticeable reduction. The pace of growth appeared the most rapid in 2019 when the production volume increased by 49% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Tin Exports

Exports in Eastern Asia

In 2022, the amount of tin exported in Eastern Asia fell remarkably to X tons, with a decrease of -38.4% on the year before. Overall, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 211%. As a result, the exports reached the peak of X tons, and then fell rapidly in the following year.

In value terms, tin exports contracted dramatically to $X in 2022. In general, exports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2021 with an increase of 417%. As a result, the exports attained the peak of $X, and then declined rapidly in the following year.

Exports by Country

China was the major exporter of tin in Eastern Asia, with the volume of exports accounting for X tons, which was near 73% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), generating a 23% share of total exports. Japan (X tons) took a relatively small share of total exports.

China was also the fastest-growing in terms of the tin exports, with a CAGR of +20.0% from 2012 to 2022. At the same time, Taiwan (Chinese) (+2.6%) displayed positive paces of growth. By contrast, Japan (-2.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +49 percentage points.

In value terms, China ($X) remains the largest tin supplier in Eastern Asia, comprising 74% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China amounted to +22.3%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+5.3% per year) and Japan (-0.5% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, with an increase of 2.8% against the previous year. Export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.8% 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 +75.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 66%. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.6%), while the other leaders experienced more modest paces of growth.

Tin Imports

Imports in Eastern Asia

Tin imports reduced to X tons in 2022, shrinking by -13.7% against the previous year. Overall, imports continue to indicate a pronounced slump. The pace of growth appeared the most rapid in 2020 with an increase of 24% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, tin imports declined to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 69% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Japan represented the major importing country with an import of about X tons, which finished at 44% of total imports. South Korea (X tons) held a 24% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (17%), China (8.1%) and Democratic People's Republic of Korea (5.3%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Democratic People's Republic of Korea (with a CAGR of +18.7%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest tin importing markets in Eastern Asia were Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X), with a combined 88% share of total imports. China and Democratic People's Republic of Korea lagged somewhat behind, together comprising a further 11%.

Democratic People's Republic of Korea, with a CAGR of +17.2%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 Eastern Asia amounted to $X per ton, with an increase of 6.4% against the previous year. Import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +4.0% 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 +81.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 70%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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