Coface's latest analysis focuses on the rising prices of non-ferrous metals, indicating a significant recovery over recent months. With the London Metal Exchange (LME) index increasing by 34% year-on-year, this spike surpasses the more modest 6% rise seen in 2025 compared to 2024. The report attributes the upward trend in metal prices largely to the energy transition; however, it emphasizes that this alone does not account for the full picture.

The analysis indicates that the growing demand for data-driven technologies plays a crucial role in the rising prices of metals like tin. As digital transitions require substantial amounts of non-ferrous metals for infrastructure, such as data centers and semiconductors, this demand surge is propelling prices upward. Speculative pressures are also contributing to this momentum, intensifying the state of the market. Specifically, tin prices are highlighted as a prime example of the market's reaction to these trends.

Coface forecasts that average tin prices will hover around $45,000 per ton, reflecting a remarkable increase of 40% in the near future. This projection underscores a broader picture of increasing global demand for key metals, fueled by technological advancements and economic factors that continue to shape the landscape of metal prices ahead of the anticipated recovery in various sectors.