SMM reports November's domestic refined tin output at 15,560 mt, up 0.24% MoM but down 3.95% YoY. January-November total reached 153,253 mt, up 2.16% YoY. Production was stable; minor output fluctuations in Yunnan were due to production plan adjustments and maintenance, while a Jiangxi smelter cut production due to high costs and tight scrap supply.
In November, an Inner Mongolia smelter slightly cut output following production plan adjustments. A Guangdong smelter also reduced its operating rates due to a scrap tin shortage. Most other smelters kept production stable during the month.
Heading into December, Yunnan smelters have stable plans, with refined tin output likely steady. A Jiangxi smelter that cut production in November expects to continue this trend. Another Jiangxi smelter plans a year-end halt for maintenance, potentially decreasing December's refined tin output. An Anhui smelter resuming post-maintenance is set to hit prior output levels in December. A Hubei smelter, paused since late October due to scrap shortages, will remain so until post-Spring Festival. Most others should keep production normal. December's domestic tin ingot production is projected at 15,445 mt, down 0.74% MoM but up 2.69% YoY.
