International Tin Association: It is expected that tin ore shipments from Myanmar's Wa region will resume in the coming months

On July 16 (Wednesday), the International Tin Association (ITA) stated that after nearly two years of suspension, tin shipments from Myanmar's Wa region are expected to resume in the coming months.

Speculation this week among traders about the resumption of tin mining in Myanmar's Wa region dragged down tin prices, which hit a three-week low on Wednesday.

As of 1505 GMT on Wednesday, LME three-month tin futures fell 1.6% to $32,775 per mt, the lowest level since June 25. Tin is mainly used as solder in the electronics and semiconductor industries.

Myanmar is the world's third-largest tin producer, and the Wa region accounts for 70% of Myanmar's total tin exports.

To protect mineral resources, the Wa region suspended all mining activities in August 2023.

Customs data showed that China's imports of tin ore from Myanmar more than halved in 2024.

Tom Langston, Senior Market Intelligence Analyst at the International Tin Association, said, "In recent months, progress has been limited due to rising licensing fees being a major obstacle, but we understand that several operators in Man Maw have now obtained three-year mining licenses."

"Shipments from Myanmar's Wa region are expected to resume in the coming months. However, the movement of equipment and personnel remains strictly controlled, creating ongoing uncertainty."

Also putting pressure on the market is the increase in inventory. LME tin inventory has climbed by a fifth so far this year, reaching its highest level since August 2021.

(Wenhua Comprehensive)