[SMM Analysis] Operating Rates of Refined Tin Smelters Rebounded in Yunnan and Jiangxi, Tin Ingot Production in Yunnan May Continue to Decline

According to the latest SMM survey, the operating rates of refined tin smelters in Yunnan and Jiangxi showed a rebound trend last week, with a combined operating rate reaching 67.27%. Specifically, the operating rate of smelters in Yunnan was 66.3%, holding basically stable WoW. SMM further learned that most refined tin smelters in Yunnan maintained normal production last week, with one producer that had previously halted production for maintenance successfully restarting. However, a few producers had to implement slight production cuts due to raw material supply issues. The operating rate of smelters in Jiangxi recorded 68.93%, showing a significant increase WoW. Most smelters in Jiangxi maintained normal production, with no maintenance plans in the near term. Some producers gradually increased their production, indicating a positive production trend. Additionally, according to recent information, a few smelters in Yunnan planned to halt production for maintenance at the end of June or in July, and some producers planned to implement slight production cuts. These adjustments are expected to have some impact on the overall production of tin ingots.