Slightly lower, tin price expected to fall to USD 20,586.00 per tonne this week
The price of tin should register a slight drop in price this week from October 17 to 22, 2022 on the international market, inform the experts of the National Commission of Mercurials of the Ministry of Foreign Trade.
According to these Congolese government experts, this product widely used in the welding industry should trade at 20,586.00 USD per tonne this week against 20,727.00 USD last week, a negative price difference of the order of 141 USD.
In addition, stock market experts indicate that the price of tin has doubled over one year and is on the verge of recording its strongest annual increase in more than thirty years.
This growth in the price of tin puts pressure on the sector of activity which uses it as a soldering agent.
For automakers where it is present in coatings, bearings, brake pads and batteries, rising metal costs add to the shortage of electronic chips and soaring prices for aluminum and magnesium.
Tin has appreciated more than 90% this year on the LME, its strongest rise since stock trading resumed in 1989, four years after the International Tin Council (ITC) disbanded.
It should be noted that this week is very favorable for mining products exported from the Democratic Republic of Congo DRC on the international market.
Apart from tin, which should experience a slight drop in price, all other mining products exported from the Democratic Republic of Congo (DRC) should record a price increase on the international market.
