International Tin Council
Encyclopedia
The International Tin Council was an organisation which acted on behalf of the principal tin
producers in Cornwall
and Malaysia to buy up surplus tin stocks to maintain the price at a steady level.
The organization was established in 1956, following on from the work of the International Tin Study Group, which was established in 1947 to survey the world supply and demand of tin.
However, with the advent of aluminium
containers, the use of protective polymer
lacquers inside cans, and increased recycling by industry, the demand for tin had decreased considerably by the early 1980s, and in October 1985 the ITC could no longer maintain the price. It eventually ran out of money buying up tin on the metals markets. Attempts to refinance the ITC were eventually abandoned, and since then, as with many other raw materials, the price has generally declined as alternatives become more attractive.
Tin
Tin is a chemical element with the symbol Sn and atomic number 50. It is a main group metal in group 14 of the periodic table. Tin shows chemical similarity to both neighboring group 14 elements, germanium and lead and has two possible oxidation states, +2 and the slightly more stable +4...
producers in Cornwall
Cornwall
Cornwall is a unitary authority and ceremonial county of England, within the United Kingdom. It is bordered to the north and west by the Celtic Sea, to the south by the English Channel, and to the east by the county of Devon, over the River Tamar. Cornwall has a population of , and covers an area of...
and Malaysia to buy up surplus tin stocks to maintain the price at a steady level.
The organization was established in 1956, following on from the work of the International Tin Study Group, which was established in 1947 to survey the world supply and demand of tin.
However, with the advent of aluminium
Aluminium
Aluminium or aluminum is a silvery white member of the boron group of chemical elements. It has the symbol Al, and its atomic number is 13. It is not soluble in water under normal circumstances....
containers, the use of protective polymer
Polymer
A polymer is a large molecule composed of repeating structural units. These subunits are typically connected by covalent chemical bonds...
lacquers inside cans, and increased recycling by industry, the demand for tin had decreased considerably by the early 1980s, and in October 1985 the ITC could no longer maintain the price. It eventually ran out of money buying up tin on the metals markets. Attempts to refinance the ITC were eventually abandoned, and since then, as with many other raw materials, the price has generally declined as alternatives become more attractive.
External links
- Catalogue of the International Tin Council papers at LSE Archives