Supply problems in Myanmar - tin prices rise
(PresseBox) - There is a large tin producing region in Myanmar that is planning to stop mining activities.
The news comes from the International Tin Association. The affected mining region will be controlled by the ethnic Wa militia from August 1. The Wa militia wants to protect the environment and the welfare of the miners. Tin prices reacted immediately to this announcement. This is because if tin mining were to cease there in Myanmar, this would result in a further shortage of global tin supply. Analysts at BMI then raised their tin price forecasts for 2023 from US$20,000 per ton to US$25,000 per ton of tin. This is mainly due to the fact that the seaborne tin market will be tight in the coming months. This is despite the fact that Chinese demand is currently still rather subdued.
Even though tin is not an overly glamorous metal and not suitable as a hedge against inflation like gold, tin is a commodity in demand, also for investors. In the earth s crust, tin is about 25 times rarer than copper. And tin is a key ingredient in future technological development. For some years now, it has been widely recognized that metals such as lithium, cobalt and zinc, as well as tin, will benefit from technological progress. Tin rose in price to around $50,000 per ton.
The metal is cheaper today, but it is still said to have a bullish scenario. Tin was not the only metal to rise sharply in price during the pandemic. Supply chain disruptions and strict covid requirements in China then pushed the price back up. Also, many tin deposits are located in regions that are not particularly popular, such as Burma (Myanmar) or China.
Mining areas also include Indonesia, Laos, Nigeria or Malaysia. In Australia, Tin One Resources - https://www.rohstoff-tv.com/mediathek/unternehmen/profile/tinone-resources-inc/ - has promising tin projects and two gold projects.
Also in Australia, and in addition in Germany, First Tin - https://www.commodity-tv.com/ondemand/companies/profil/first-tin-ltd/ - operates advanced stage tin projects.
Corporate information and press releases from First Tin can be found at (-https://www.resource-capital.ch/en/companies/first-tin-plc/ -).
In accordance with ?34 of the German Securities Trading Act (WpHG), I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and that there is therefore a possible conflict of interest. No guarantee for the translation into German. Only the English version of this news is valid.
Disclaimer:
The information provided does not constitute any form of recommendation or advice. Express reference is made to the risks involved in securities trading. No liability can be accepted for any damages arising from the use of this blog. I would like to point out that shares and especially warrant investments are fundamentally associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make a mistake, especially with regard to figures and prices. The information contained is taken from sources that are considered reliable, but in no way claim to be correct or complete. Due to judicial decisions the contents of linked external pages are to be answered for (so among other things regional court Hamburg, in the judgement of 12.05.1998 - 312 O 85/98), as long as no explicit dissociation from these takes place. Despite careful control of the contents, I do not assume any liability for the contents of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG applies additionally: https://www.resource-capital.ch/de/disclaimer-agb/
Unternehmensinformation / Kurzprofil:
Datum: 08.06.2023 - 08:01 Uhr
Sprache: Deutsch
News-ID 685257
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