Tin, which is primarily used as a solder, could get a boost higher from 2025 onwards as the electric vehicle revolution gathers pace, according to industry body the International Tin Association Friday.
At its 7th annual investor day hosted in London ITA market analyst Tom Mulqueen said that the price is likely to remain stable throughout 2019, picking up to around $22,000/mt towards 2022. London Metal Exchange three-months tin has been less volatile than other metals throughout 2018.
However, Friday was an exception as all asset classes were sold off in force -- taking lead from oil which broke below $60/barrel. LME three-months tin was down $540, as of 1620, at $18,730/mt. The metal opened 2018 at $19,900/mt.
Looking further out Jeremy Pearce, technology team leader at ITA, said that EVs could be a big deal for tin as an anode in Li-ion batteries. Graphite is the main anode currently used, but it is believed that tin could act as a more efficient anode for longer distance batteries.
Pearce said that tin could be the main beneficiary from the "technology super cycle", notably picking up from 2025 onwards. He said that in a lithium-ion battery tin has nine separate usages.
"Tin glues everything together," he said.
