Tin Plate Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Tin Plate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Tin Plate Price Trend for the Second Half of 2023


In the third quarter of 2023, the tin plate price trend declined under the influence of a limited number of orders from the downstream automotive and related industries. The bearish trend in the prices was also fueled by the excessive influx of imports, which, in view of constrained demand, only raised the level of inventories. Also, the domestic producers increased their production capacities in anticipation of the revival of the downstream market. This far-fetched approach proved fruitful in the last quarter of the year as the market regained its momentum, bringing stabilization in the prices of tin plates.

Tin Plate Price Chart

Tin Plate Price Trends

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The slow purchasing of consumers reflected economic uncertainties in European countries, negatively influencing the tin plate price trend during the third quarter of 2023.

The downstream market activities also remained subdued due to insufficient sales in the downstream automotive industries and rising rates of interest. Additionally, the fourth quarter also suffered from the excessive supply of the product and limited international trading activities due to the ongoing Israel-Hamas conflict.

North America

In North America, the traders struggled to manage the inventories as the automotive industries reported the closing of several production plants, lowering the demand for tin plates in the region during the third quarter of 2023. However, the market regained its stability in the fourth quarter with the revival of the construction industry. The optimistic approach of the market during these times was also fueled by the stabilization of production costs as the prices of crude oil declined by a double-digit percentage.

Analyst Insight

According to Procurement Resource, the price trend of Tin plate is estimated to remain strong in the upcoming quarters as the end user industries are estimated to report positive demand.

Tin Plate Price Trend for the First Half of 2023


Tin Plate prices fluctuated in Asian markets throughout the first half of 2023. Tin Plate prices closely followed the feedstock Tin prices. Tin prices started high in January but soon turned southward as the inventories got oversupplied and the demands from downstream industries started plunging, attributed to the Chinese Lunar New Year holidays.

These depreciating trend continued for the entire first quarter, but the trend reversed as the quarters shifted and the industries resumed operation in full swing. The price trend for Tin Plate started rising in the middle of April and then continued to rise for the rest of the concerned period.


Tin Plate prices exhibited mixed price trend during the first two quarters of 2023. Tin plate price trend replicated the feedstock Tin metal price trend. Prices declined throughout the first quarter because of plunging demands from downstream industries.

Quarter 2 witnessed Tin plate prices wavering in a very narrow range as feeble demands drove these price trend primarily. Various other metals like steel and aluminium provided choices to major consuming industries, which has diversified consumption and impacted tin plate demands. Overall, sluggish market sentiments were observed for Tin Plate prices in the concerned time period.

Analyst insight

According to Procurement Resource, the Tin Plate prices are expected to continue similar dull market behavior in the upcoming months. The sluggish downstream demands amid ample supplies will likely impact the market negatively.

For the Second Quarter of 2022


As we approached the middle of 2022, we observed that tin plate prices peaked in March at a record-high of 395,000 RMB/MT before reversing course in May. Due to declining prices, many tin smelters had undergone upgrades.

In the second quarter of 2022, tin plate prices on the Shanghai Futures Exchange (SFE) fell. Tin and nickel futures experienced the largest losses on the SFE. The overnight jump in the U.S. dollar index, which saw it hit its greatest level in nearly 20 years, was the biggest contributing factor. Market mood was significantly impacted by the sudden collapse in U.S. stocks.


In Q2 of 2022, tin prices fell significantly. A year after reaching a record high of 51,000 USD in March, the price of three-month metal on the London Metal Exchange (LME) plunged to a one-year low of 30,405 USD/MT in June.

Tin plate prices dropped more than 50% from their March record highs since the end of June, reaching their lowest levels in more than a year. The tin contract traded on the London Metal Exchange (LME) experienced its largest weekly decrease, by nearly 22%, since at least 2005 in the week ending June 24.

Compared to a peak of 1,750 USD/MT in July 2021, the metal traded at Rotterdam at a premium of 1,150 USD/MT over LME cash in July 2022.

For the First Quarter of 2022


The dominant quotation range for tin ingot in China's domestic spot tin market was 346,500-348,500 RMB/MT, with an average price of 347,500 RMB/MT. The metal market was under a lot of stress. Fundamentally, current market supply remains tight, market transaction is general, tin price remains relatively high, downstream procurement remains in strong demand, and overall transaction condition is average.


Tin plate prices in London dropped 0.63 percent, while tin prices in Shanghai dropped 0.52 percent. The three-month spot tin price on the London Metal Exchange was 43,955 USD/MT on February 17, down slightly from the record high of 44,250 USD/MT achieved on February 10. Short-term supply fears from Indonesia added fuel to an already oversupplied market, propelling tin plate prices to new highs this year.

Tin plate prices will continue to grow in the coming years as demand for the metal remains robust and supply continues to fall short. In March 2022, the three-month price on the London Metal Exchange ended at 49,500 USD/MT, reflecting the larger commodities market's volatility in the wake of Russia's invasion of Ukraine.

For the Fourth Quarter of 2021


Tin plate prices in global marketplaces decreased more than 5% in the fourth quarter of 2021, reversing previous highs. In 2022 and beyond, the price of soldering metal is predicted to stay steady. On January 28, tin for March delivery fell to 329,600 RMB/MT on the Shanghai Metal Exchange.

Asia-Pacific is currently the largest market for tin-based solders, owing to rising demand in the electronics sector and a growing manufacturing base. China was the largest market for tin-based solders in terms of both production and consumption, with the massive and growing electronics and automotive industries driving demand.

North America

In the fourth quarter, tin plate prices hit a record of 39,159 USD/MT, up 79% from the start of the year. Although total metal output was insufficient, the rise was driven by a scarcity created by significantly increased demand from the electronics sector, where it is used for circuit board construction. The average annual price of the metal in 2021 Q4 was 31,250 USD/MT, according to the World Bank's October forecast.


Prices on LME for a three-month contract closed at 41,684 USD/MT in Q4. There was also an increase in demand from the beverages business, which grew gradually during the fourth quarter of 2021. In the tinplate packaging market, Europe accounts for roughly a third of the value share. The regional players' sustainable practises had significantly improved the favour of these businesses.

For First, Second and Third Quarters of 2021


As a result of the epidemic, metal demand in India increased, but transport delays wreaked havoc on supplies. Due to constrained supply, strong demand, and low stocks, the prices remained stable through the end of the year. Since the beginning of the year, prices had risen by more than 50%. Prices soared as demand for consumer electronics, cellphones, and electric vehicles (EVs) increased, with lead-acid batteries accounting for the majority of the rise, as well as increased use in lithium-ion batteries and electronic solders.


Stocks were down 76% in April this year compared to the same month the previous year. In May 2021, prices on LME reached a high of 32,975 USD/MT, before falling to 30,364 USD/MT for a three-month contract. Due to a supply deficit, tin for cash was priced correspondingly at 32,079 USD/MT.

Europe was one of the forerunners in terms of recycling, which resulted in a major reduction in the cost of raw materials for domestic players. While an increase in foreign direct in South Asia slowed the growth of tinplate packaging in Europe, the continent's share of the market remained stable.

North America

The average New York dealer price of Grade A tin in Q1 was 10.26 USD/lb, a 12% increase from December 2020 and a 28% increase from January 2020. In January 2021, the average London Metal Exchange cash price of Grade A tin was 9.96 USD/lb, up 11% from December 2020 and 29% from January 2020.

Prices jumped from 21,920 USD/MT to 39,159 USD/MT between Q1 and Q3 2021, reaching their highest level ever. North America emerged as one of the main regions in the global tinplate market, and this dominance was expected to continue during 2022 also. The quick expansion of the regional market in 2021 was fueled by rising demand and consumption of canned food items, high per capita income, and increased demand from the beverage industry.

Latin America

A container scarcity increased delivery delays from Latin America, while the epidemic reduced raw tin exports from Indonesia. Both of these factors contributed to its scarcity around the world.

For the Year 2020


Tin plate prices had recovered by 45% from March 2020, when they fell to their lowest level in more than five years, owing to a recovery in key user China, but remained around 20,000 USD/MT in October 2020. The price averaged 18,714.2 USD/MT in October 2020, up 45.4% from 15,072.6 USD/MT in March. COVID-19 had an adverse effect on the market in 2020.

Car manufacturing plants were temporarily shut down as a result of the pandemic, resulting in lesser output of gasoline tanks, sealants, nuts, bolts, radiators, roofing, and other parts, cutting demand for the metal. During the pandemic, however, the packaging sector picked up speed, and the increased use of the metal in pharmaceutical and food and beverage packaging boosted its demand.


Prices on the London Metal Exchange futures market increased by more than 25%, reaching nine-year highs of over 25,000 USD/MT in 2020. Tinplate packaging is widely used for the packaging of beverages and foodstuffs. Chemicals, waxes, polishes, powders, paints, grease, and oils are all packaged on tinplates. It is also used to make aerosol caps and containers. Such widespread application propelled the worldwide tinplate market's growth in 2020.

North America

As Covid-19 sparked a surge in demand with limited supply, tin traders faced significant shortages in the metal market. The turmoil was noticed by major investors, who had hitherto disregarded the vital but illiquid metal. The demand for the metal, which is used in soldering, skyrocketed during the work-from-home era. Due to the disruption of mine output and shipping systems, key European and American buyers were scrambling for metal as warehouses became depleted.

Procurement Resource provides latest prices of Tin Plate. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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Tin Plate is composed of sheets that are often coated with a thin layer of tin. Tin is a silvery metal, which is soft and has a faint yellow hue. Like most of the metals, pure tin gives a mirror-like appearance upon solidifying. Tin Plate is primarily used to manufacture tin cans.

Product Details

Report Features Details
Product Name Tin Plate
Industrial Uses Containers for food and beverages, paints, oils, tobacco,Toys, Baking equipment, Parts for electronic equipment such as radio and others
Supplier Database The Tinplate Company of India Limited (TCIL), JSW Steel Coated Products Ltd., ArcelorMittal, Ohio Coatings Company (OCC), Titan Steel Corporation, Sino East Steel Enterprise Co., Ltd., Nippon Steel Corporation
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes 
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Processes

  • Production of Tin Plate via Electrolytic Deposition

In this process, strip steel is cleaned in a pickling solution and then fed through tanks filled with electrolyte, where tin is deposited on both sides of strip steel, thus, resulting in the formation of Tin Plates. Tin Plate formed using this process is essentially a sandwich, where the central core is strip steel.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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