[SMM Analysis] Operating Rates of Refined Tin Smelters in Jiangxi Dropped Slightly, Tin Ingot Production is Expected to See No Growth

According to a survey by SMM, the combined operating rate of refined tin smelters in Yunnan and Jiangxi last week was 65.11%, dropping slightly WoW. The operating rate of smelters in Yunnan dropped to 66.63%. Most refined tin smelters in Yunnan maintained normal production last week, with most idled producers resuming normal operations. One smelter is gradually restarting and is expected to return to pre-shutdown production levels this week. The operating rate of smelters in Jiangxi was 62.51%, dropping slightly WoW. Most smelters in Jiangxi maintained normal production, with no maintenance plans recently. One smelter planned to slightly reduce production due to raw material supply issues. Additionally, it is understood that a few smelters in Yunnan plan to halt production for maintenance at the end of June or in July, which is expected to impact tin production to some extent.