Fitch tentative on tin output growth, while price hits 2020 high

Refined tin production will fall by 2.6% annualized in 2020, then rise by a similar amount - subject to the availability of concentrates to refine - according to a report published by New York-based Fitch Group on Wednesday July 29.

The comments coincided with tin hitting its highest price of the year on the London Metal Exchange, but the rise is generally attributed more to speculation than physical demand. Tin continued to be put into LME warehouses, rather than consumed, although the metal traded above $18,000 per tonne on Monday, Fastmarkets reported.
“In the short run, we expect refined tin production to pick up over H2 2020, relative to H1 2020, but see output overall contracting by 2.6% y-o-y in 2020,” Fitch said.

“We forecast global refined tin...

Published

Orla O'Sullivan

July 30, 2020

06:55 GMT

New York