Shanghai tin prices surged 8.6% following mining halt

Tin prices on the Shanghai Futures Exchange rose sharply on Friday, increasing by 8.6% to 287,800 yuan per metric ton. This surge followed Alphamin Resources' decision to halt mining at the Bisie tin mine in the Democratic Republic of Congo due to security concerns. The Bisie mine is significant, accounting for 6% of the world's tin ores in 2024. Meanwhile, benchmark three-month tin prices on the London Metals Exchange also increased by 1.7% to $36,500 a ton. Other metals showed mixed results, with LME copper up 0.6% and LME aluminium down 0.2%. On the SHFE, copper rose 1%, while aluminium remained unchanged.