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TIN
The metal tin is one of the basic elements in chemistry and is the 49th most abundant element in the crust of the Earth. It is a malleable poor metal with a silver-like look and is not easily oxidized in air. It is a slivery metal listed as Group 13 of the periodic table. Tin is used a lot to coat other metals to decrease corrosion.
The symbol for tin is “Sn” and is quoted both in USD and INR. The largest deposits of tin are currently found in China, Malaysia, Peru and Indonesia.
The price of tin is influenced by a number of factors. Approximately 50% of tin worldwide is used in solder. The increasing environmental awareness is causing a resentment for the use of lead in solder and have resulted in a ban of this metal. Similar difficulties may arise for tin as it also has some negative qualities concerning the environment. The legal restrictions can therefore have a far-reaching effect on the demand for tin.
Eforex India quotes prices of TIN as per the London Metal Exchange (LME) against the USD and can be used for benchmarking and hedging purposes. We also give API of the prices of all Metals which can be integrated to your software for pricing and valuation. Exporters, importers and traders needs to manage their hedging by proper Risk management techniques and value it Marked to Market (MTM) on a daily basis to manage their portfolio.