Solution guide
What Is Tin Worth Today?
In addition to steel and iron, tin is one of the most widely used metals in industry. It is particularly useful in various applications such as brazing, welding, manufacturing various types of…
In addition to steel and iron, tin is one of the most widely used metals in industry. It is particularly useful in various applications such as brazing, welding, manufacturing various types of alloy for industrial machines. Listed on the stock exchange, its price has fluctuated in recent years. Learn more about the price and stock market listing of tin.
What is tin?
Tin is a chemical element with atomic number 50, symbol Sn (from the Latin stannum). Rare in its native state, tin is essentially extracted from a mineral called cassiterite where it is found in the form of SnO2 oxide. Tin does not generally corrode in contact with sea water and fresh water. Some strong acids do, however, corrode it. Tin is also soft and easy to laminate.
How is tin used in industry?
Tin can be used in the food industry, especially in the manufacture of cans. Some coins are also made of tin while tin is often used in industry to manufacture certain components. A tin-based alloy makes it possible, for example, to reduce friction between a bearing and a heavy-load shaft fitted to certain industrial machines.
Tin has a relatively heavy density of 7.29g/cm3. The low melting temperature of the metal is 232°C, which allows it to be used in soft solder (melting point below 450°C). In addition, the boiling point of the metal is 2270°C.
Due to these characteristics, tin is widely used in assembling vehicle bodies, piping systems and high quality engine parts. Many sectors need tin such as mechanical engineering, the measurement and control technology industries and the automotive and hydraulics industries.
Like zinc, lead, nickel, copper and aluminium, tin is one of the metals traded on the stock exchange. It is mostly traded on the London Metal Exchange (LME), which is the world's leading market for non-ferrous metals with 80% of the world’s trade.
What is the price of tin today?
Apart from a global tin crisis in 1985, the price had never exceeded $22,000 per tonne before 2016. In 2020, the price fell sharply due to the COVID-19 pandemic. On April 13, 2020, the price reached $15,000 per tonne.
The years 2021 and 2022 have been marked by a rise in the price of tin. Indeed, its price reached 41,000 dollars per ton on November 25, 2021. This represents an increase of 95% between January and November 2021. Despite a sharp decrease in December 2021, the situation stagnated for several months until reaching a new record of 48,660 dollars per ton, on March 7, 2022.
Between March 09, 2022 and March 10, 2022, the price fell, starting from 48,150 dollars to 42,750 dollars per tonne. Between mid-March and mid-June of the same year, the price of the metal fluctuated between $42,000 and $26,800. Since then, the price has more or less stabilised. The cost of tin on August 25, 2022 was $24,452 per tonne.
