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Tin Prices Reach Records as Delta Variant Disrupts Supply

Tin prices are surging to all-time highs, lifted by wagers that coronavirus disruptions in Southeast Asia will fuel shortages of the industrial metal. 

The price of tin to be delivered in three months has soared to about $34,000 a metric ton on the London Metal Exchange in recent days, piercing its previous record from a decade ago. Prices are up about 9% this month and nearly 70% for the year. 

The rally highlights investor bets that there won’t be enough tin supply moving forward. Tin is used to produce solder, a melted metal that connects computer chips to circuit boards, so demand has skyrocketed alongside purchases of consumer electronics during the pandemic. 

Some investors are also speculating that consumption of tin and other industrial metals like copper will rise in the coming years as renewable-energy projects and 5G technology become more widespread. 

As the Delta variant of the coronavirus spreads in Asia and Africa, prompting economic shutdowns and travel restrictions, traders are betting the metal will remain in short supply. Key producers including Indonesia, Malaysia, Myanmar and Rwanda are facing surging coronavirus cases, driving worries that shipping tin around the world could be difficult.  

Tin Prices Reach Records as Delta Variant Disrupts Supply Source link Tin Prices Reach Records as Delta Variant Disrupts Supply

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