Tin usage last year climbed almost 13 percent to about 360,000 metric tons, with demand in China rising to a record, tin industry group ITRI Ltd. said.
China’s tin use was almost 147,000 tons, while consumption in the rest of the world was about 25,000 tons below the 2006 peak, according to an e-mailed statement today from the St. Albans, England-based group. The estimate of global tin demand in 2009 was raised to 320,000 tons from 307,000 tons forecast a year ago, ITRI said. Buyers also used about 59,000 tons of tin contained in secondary alloys and other scrap in 2009, it said.
Production of tin from secondary sources probably exceeded 60,000 tons last year, with China accounting for over 75 percent of the total, ITRI said.
Tin, used in food cans and electronics, rose to a record $28,190 a metric ton yesterday on the London Metal Exchange. It climbed more than any of the other main metals on the exchange last year.