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Tin is a silvery-white metal that is soft, malleable and has ductile properties. It is mainly derived from the mineral cassiterite, which contains about 80% tin. The tin market is segmented by product type, application, end-user industry, and geography. By product type, the market is segmented into metals, alloys and compounds. By application, the market is segmented into soldering, tin plating, chemical and other applications (special alloys, lead-acid batteries). Based on end-user industry, the market is segmented into automotive, electronics, packaging, glass and other end-user industries. The Asia-Pacific region is the largest market for tin. The tin market is strongly consolidated, with the top 10 manufacturers accounting for more than 60% of the global market. Some of the major players in the market (in no particular order) include Yunnan Tin Company Limited, PT TIMAH Tbk, Malaysia Smelting Corporation Berhad, Yunnan Chengfeng Nonferrous Metals Co. Ltd. and MINSUR.

Amid the persistently negative outlook on Chinese demand, tin futures were trading close to the $29,000 per tonne barrier, staying near the seven-month low of $28,740 in November. Markets were prompted to lower their expectations of more aggressive measures that would support manufacturing demand when the Chinese Ministry of Finance announced a $1.4 trillion package for local governments to swap hidden debt and improve their access to cheaper financing. However, the ministry did not specifically target flows to stimulate consumption. However, supply issues persisted in maintaining the 15% increase thus far this year. Ore supply for Chinese smelters remained low due to lower-than-expected activity in key tin mines in Wa State, Myanmar. The lower activity levels challenged earlier expectations that tin output would recover in the region during the latter part of 2024, despite political instability in Myanmar.

The Asia-Pacific region is the largest market for tin. China is one of the largest tin producers and consumers in the world. The tin market size is estimated to be more than 387 kilotons in 2021 and this market is forecast to reach a CAGR of over 2.5% during the forecast period (2022-2027). The market is negatively affected by COVID-19 in 2020. Tin dealers have been experiencing one of the heaviest pressures on the metal market as COVID-19 fuels a surge in demand due to supply destruction. In the first half of 2021, demand for tin used in electronics exceeded supply, causing prices on the London Metal Exchange to increase by more than 90%. However, the market is expected to grow steadily during the forecast period (2022-2027).