Brief by Shorts91NewsDesk / 04:35pm on 28 Mar 2025,Friday Business
Tin prices surged to a two-week high on Friday following a significant earthquake in Myanmar, the world's third-largest tin producer. Benchmark tin on the London Metal Exchange rose 2.5% to $36,140 per metric ton, peaking at $36,635—the highest since March 14. The quake's epicenter near Mandalay is approximately 425 km from the tin-rich Wa State, responsible for 70% of Myanmar's tin output. Although no damage has been reported in Wa State, concerns persist about potential delays in resuming mining operations, which were suspended in August 2023 to conserve resources. A meeting with investors is scheduled for April 1 to discuss mining resumption. Additionally, tin inventories in LME-registered warehouses are at their lowest since mid-2023, contributing to a 24% price increase this year. (PC: ETV Bharat & Reuters)
