China: Tin Market 2023

Tin Market Size in China

In 2021, the Chinese tin market decreased by -16.8% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption continues to indicate a perceptible descent. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Tin Production in China

In value terms, tin production contracted to $X in 2021 estimated in export price. Overall, production, however, recorded a perceptible downturn. 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 reached the maximum level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Tin Exports

Exports from China

Tin exports from China surged to X tons in 2021, rising by 229% on the year before. Over the period under review, exports saw a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, tin exports skyrocketed to $X in 2021. In general, exports saw significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Hong Kong SAR (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons) were the main destinations of tin exports from China, together accounting for 60% of total exports.

From 2012 to 2021, 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 +131.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tin exported from China were Hong Kong SAR ($X), Taiwan (Chinese) ($X) and South Korea ($X), with a combined 62% share of total exports.

Among the main countries of destination, South Korea, with a CAGR of +140.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average tin export price amounted to $X per ton, rising by 64% against the previous year. Over the period under review, the export price continues to indicate a modest increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2021, the highest price was recorded for prices to Italy ($X per ton) and Taiwan (Chinese) ($X per ton), while the average price for exports to Malaysia ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+27.4%), while the prices for the other major destinations experienced more modest paces of growth.

Tin Imports

Imports into China

In 2021, supplies from abroad of tin decreased by -74.9% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports saw a abrupt contraction. The growth pace was the most rapid in 2020 when imports increased by 515% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, tin imports contracted rapidly to $X in 2021. Overall, imports recorded a deep contraction. The pace of growth appeared the most rapid in 2020 when imports increased by 461% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest tin supplier to China, with a 74% share of total imports. Moreover, tin imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), sixfold. The third position in this ranking was held by Peru (X tons), with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Indonesia totaled -15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-27.7% per year) and Peru (+1,654.3% per year).

In value terms, Indonesia ($X) constituted the largest supplier of tin to China, comprising 79% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 10% share of total imports. It was followed by Peru, with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Indonesia totaled -12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-27.5% per year) and Peru (+1,533.6% per year).

Import Prices by Country

In 2021, the average tin import price amounted to $X per ton, picking up by 66% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Singapore ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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