The price of tin rallied around 1.45% higher to end last week, pricing the metal at US$53,186 ($74,628) per tonne as of 17 September according to Trading Economics.
Inside this change, tin is performing 31.14% higher this year to date and almost 58% higher for this year over year (YoY).
Last week’s price still sits below the Q3 forecast, which puts tin at US$53,244 per tonne.
Supply growth for tin remains limited according to trade credit risk management insurer Coface, with the Democratic Republic of the Congo (DRC) and Myanmar expected to lead to a tin supply deficit as early as 2026.
This upcoming supply deficit will be the first one since 2021.
Earlier this year, Coface Sectorial Economist Simon Lacoume said recent demand for data‑based technologies is fuelling rising tin prices.
“We expect average prices to hover around US$45,000 per tonne (+40% YoY) over the first half of the year,” Lacoume says.
The US Geological Survey reports China and Indonesia to be the leading producers of tin in 2025, with the highest reserves worldwide.
In 2025, China produced 71,000 tonnes of tin, followed by Indonesia with 61,000 tonnes.
The DRC produced 27,000 tonnes of tin in 2025, meaning a supply deficit from the DRC, as well as Myanmar, is likely to cause substantial effects on global resources.
Spain is one country that produced a small amount of the metal, with around 348 tonnes of tin recorded in 2023.
However, this is soon to change as Elementos (ASX:ELT) pushes to bring its Oropesa Project online.
Located 150km north of Seville within Spain’s Andalucía region, the Oropesa Project is forecast to produce 3,405 tonnes of contained tin each year with a 12-year life of mine.
A Definitive Feasibility Study, completed in April 2025, confirms “robust project design and economic outcomes”, Elementos says.
The company recently satisfied conditions under its option agreement to acquire up to 50% of Iberian Smelting, providing access to the Robledollano tin smelting and refining facility in Spain.
By making the option agreement unconditional, Managing Director Joe David previously said the 50% stake in Iberian Smelting will strengthen Elementos’ strategy to establish a fully integrated European mine-to-metal tin supply chain.
Elementos is a tin and critical minerals developer with assets in Spain and Tasmania.
Write to Maddison Elliott at Mining.com.au
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