The price of tin could register a decline of 2,981.25 USD per tonne this week
The prices of the main mining products exported from the Democratic Republic of Congo (DRC) have been in freefall on the international market for several weeks.
This trend was confirmed in the latest report by experts from the National Mercurial Commission of the DRC Ministry of Foreign Trade, which takes into account the period from May 16 to 21, 2022.
This document indicates that tin should experience a significant drop during this period and should sell at 40,068.75 USD per tonne against 43,050.00 USD last week, i.e. a negative price difference of around $2,981.25 (-6.93%).
The fall in the prices of mining products risks having a negative impact on the economy of the Democratic Republic of Congo, which has nevertheless recorded significant progress during the month of April 2022.
This significant increase in public revenue recorded in April 2022 is due on the one hand to the surge in international commodity prices (copper and cobalt) resulting in a positive impact on the turnover of mining companies but also the payment by the latter of the superprofits, a first since the application of the new revised Mining Code.
Cobalt, the product on which the DRC now rests all its hope, is also down on the international market, trading at 74,670.00 USD against 81,485.00 USD per ton last week.
It should be noted that the National Mercurial Commission had, however, bet on a significant increase in the price of cobalt, which should rise from 81,485.00 USD per tonne the previous week against 87,781.05 USD per tonne this week.
Copper remains down and is expected to trade at $9,368.25 per ton versus $9,687.10 per ton last week, a negative spread of $318.85 (-3.29%).
Zinc is also down this week and is expected to trade at USD 3,755.03 per tonne compared to USD 4,130.45 per tonne last week, a price drop of USD 375.15 (-9.08%).
Gold is also trending lower this week and is trading at $60.75 per gram from $61.09 per gram last week, giving a negative price gap of -0.35 USD.
Silver is also down this week at $0.73 per gram from $0.80 per gram last week, a negative price differential of $0.04.
Tantalum is expected to observe a stable trend in this segment of the international market, trading at USD 390.00 per kilogram.
Depending on the evolution of the international market, these different prices of mining products are likely to experience possible variations.
