A report from the Commodity Markets Strategy Group at BNP Paribas on the 2013 outlook for the base metal markets indicates tin will stay on top after a challenging 2012. Key findings from the report include:
- Not only was tin the best performer over the course of 2012, up 22%, but tin has made by far the greatest gains since the start of 2010 and has in recent weeks retaken from copper the pole position in the race since 2001.
- Tin prices enjoyed a rally of over 25% since late October and 45% since late July 2012.
- Despite a downturn in the consumer electronics and home appliance markets hitting solder manufacturers, there remains scope for tin to take a greater share of the solder market; several studies have identified potential new uses, notably in batteries and steel.
- Growth in global mine output in 2013 will come primarily from established producers, through improved operating performance or price-induced turnarounds.
Click here to read the full report.
Source: BNP Paribas Commodity Markets Strategy Group Base Metals Market Comment, January 15, 2013