Global tin production falls in 2024 on supply disruptions
2024 saw global refined tin production of 371,200 t, representing a decline of 2.7% from 2023. Approximately 63% of this tin originated from just ten leading smelters, whose collective output increased by 14,300 t (7% year-on-year).
The top three producers remain unchanged, with Yunnan Tin maintaining its position as the world’s largest producer of refined tin at 85,000 t, and Minsur keeping second place although bolstered by strong growth of 14.3% to 36,300 t. Yunnan Chengfeng remained in third place with approximately flat production on the previous year.
After switching places in 2023, PT Timah and Malaysia Smelting Corporation (MSC) have switched again in 2024 as PT Timah’s production recovered to 2022 levels and MSC saw the largest year-on-year decline in the cohort.
PT Timah’s recovery came amid a difficult year for the Indonesian tin industry, with national refined tin production falling 30.7%, as the country’s investigation into alleged historical irregularities in the tin trade exacerbated licensing and export delays.
After facing significant challenges in 2023, EM Vinto production increased 26.3% to a record 12,700 t refined tin.
Chinese producer Guangxi Huaxi (formerly Guangxi China Tin) saw the strongest growth within the cohort of 34.1%, while Jiangxi New Nanshan saw modest growth, and both companies retained their positions from 2023.
Total production in mainland China saw remarkable growth of 4.6% despite the ongoing mining suspension in Wa State, Myanmar—traditionally a major concentrate source for Chinese smelters—bringing the national total to 194,000 t in 2024. This increase is attributed to unprecedented growth in secondary refined tin production of 14.9% on the previous year, and significant drawdown of raw material stockpiles.
Global secondary supply grew by 6.8% in 2024 to a record high, following growth of 2.9% the previous year. Secondary supply ex-China declined by 3.4%. Production at tin recycler Aurubis Beerse fell 16.9%, seeing the company switch places with Thaisarco.
Despite coinciding with weaker-than-expected growth in tin demand, protracted supply disruptions in Myanmar and Indonesia saw the tin market fall into a narrow deficit of 2,200 tonnes in 2024.
While 2024 saw the industry focus on a challenging supply story, 2025 will likely see supply recover as demand continues to move into a recovery cycle, putting the market on course for a small surplus in 2025.
Yunnan Tin, Minsur, PT Timah, Malaysia Smelting Corporation, Thaisarco, and Aurubis Beerse are members of the International Tin Association. Yunnan Chengfeng, Guangxi Huaxi, and Jiangxi New Nanshan are associate companies reporting data to ITA China.
