Fitch revises tin price forecast upward

BMI said the International Tin Association has cautioned that Myanmar's suspension of mining activities could threaten close to 10% of global tin concentrate supplies.— Reuters

KUALA LUMPUR: BMI Country Risk & Industry Research, a unit of Fitch Solutions, has revised its tin price forecast for 2023 upwards to US$25,000 (RM115,438) a tonne from US$20,000 (RM92,350) a tonne, as a number of regulatory changes point to a looming supply crunch in the global tin market.

In a statement, it said the Wa militia in Myanmar, the world’s third-largest tin producer, has announced a suspension of tin mining activities from August 2023, citing the need to protect remaining resources after years of mining.