Tin - the best base metal in 2024, copper also in demand

Tin - the best base metal in 2024, copper also in demand

The tin price put in an above-average performance in 2024.

Tin prices have already risen by around 20 percent this year. On the supply side, the metal is at the same level as in 2005, with around 300,000 tons of tin produced per year in the last 20 years. In the first half of 2024, only 268,000 tons of tin came out of the mines. Demand for tin is increasing due to the energy transition and its dependence on green technologies. Warehouses are now almost exhausted. This is because semiconductors, electric vehicles and solar energy require more and more tin. According to the International Tin Association, consumption in the photovoltaic industry alone has increased more than sixfold over the past ten years. Electric cars need around two to three times as much tin as conventional vehicles (combustion engines). This leads to solid fundamental data and should make investors sit up and take notice. According to forecasts, the price of a tonne of tin is set to rise from the current average of USD 32,500 to USD 37,000 by 2026. The largest supplier for the world's largest tin consumer, China, has not supplied any more tin since a ban was imposed in August 2023.

Another metal that is increasingly being used in modern technologies is copper. The fundamental data has stabilized, and Chinese purchases have increased. Here too, the demand drivers of electric vehicles and renewable energies are dominating the market. There is also demand from the defense and AI data centers. If, as expected, the traditional consumption sectors (construction, consumer durables) recover, copper prices could once again please investors and copper companies.

For example, Mogotes Metals - https://www.commodity-tv.com/ondemand/companies/profil/mogotes-metals-inc/ . The company is searching for copper and gold in the promising Vicuña district in Argentina and Chile. The Filo Sur copper-gold-silver project appears particularly promising.

Tin One Resources - https://www.commodity-tv.com/ondemand/companies/profil/tinone-resources-inc/ - with its tin/tungsten and lithium projects in Tasmania and New South Wales, Australia.

Current company information and press releases from Mogotes Metals (https://www.resource-capital.ch/en/companies/mogotes-metals-inc/ ).

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