In October, exports fell to 2.64 thousand tons, the lowest level since January. This was due to the fact that Indonesian President Prabowo Subianto instructed the authorities to combat illegal mines in the country's largest tin producing region, Bangka Belitung. Tin prices, which have jumped 41% this year, are the best indicator on the London Metal Exchange. Investors are betting on increased consumption in the artificial intelligence industry, while supplies from other major producing countries - the Republic of Congo and Myanmar — have also experienced disruptions.
Mysteel Global estimates that the global tin market will turn into a surplus in 2026 due to increased supplies, particularly from Myanmar.
Indonesia is the world's largest exporter of tin.
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