2020 Chronicle of the Tin Industry | shutdown of overseas mines, maintenance of smelters, analysis of import tax rates.

Looking back at 2020, Shanghai tin as a whole showed a trend of first suppressing and then rising, and the domestic tin ore supply continued to be tight. According to the data of the Bureau of Statistics, domestic tin ore and concentrate production in November was 7209 tons, down 4.01% from a month earlier, and 9.01% less than the same period last year. Total production from January to November increased by 14.11%. At present, the overall supply of tin ingots in the spot market is relatively small, first, because the quotations of mainstream brand factories are strong, which discourages the purchasing enthusiasm of downstream and traders; second, because traders think that the current rising discount price is on the low side, it has not yet reached the psychological price of its warehouse receipt. SMM summarizes the major events that have happened in the tin market so far this year.

Timah joins hands with Stamico in Tanzania to develop mines and metals

According to the Indonesian Business Daily on January 6, Timah is busy with plans to cooperate with Stamico (State Mining Corporation) in Tanzania. Cooperation between the two companies includes the development of mines and metal objects such as tin, nickel, gold and the rare earth element (REE). The fact that Timah and Stamico have fulfilled their commitment to cooperate can be seen in the signing of the Memorandum of understanding (MoU) on December 17, 2019. According to the agreement between the two companies, the memorandum of understanding includes due diligence, evaluation and plans for the establishment of a joint venture. These procedures will be completed within 12 months.

An interpretation of the impact of the signing of a trade agreement between China and the United States on tariff rates halving the tin industry

In the early morning of January 16, on the morning of the 15th, local time, the first phase of the Sino-US economic and trade agreement, which attracted worldwide attention, was formally signed at the White House. China and the United States have reached the first stage of the Sino-US economic and trade agreement on the basis of the principles of equality and mutual respect. Among them, the tariff retreat was in line with the expectations of the first stage of negotiations and won the initiative for the next step of negotiations. The agreement promoted the US side to realize the transition from raising tariffs to lowering tariffs on China, including suspending the tariffs originally scheduled to be imposed on December 15 last year. It also reduced the tariff rate on China, which came into effect on September 1 last year, from 15% to 7.5%. As far as the tin industry is concerned, some tinplates, electronic products and white goods are among them, and there are certain favorable factors for China's tin downstream and terminals, which are conducive to the export of tin products and related end products. To a certain extent, promote the downstream demand of refined tin. "View details

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What is the impact on the reduction of tariffs on US imports of tin-related products?

The tariff Commission of the State Council issued a notice on February 6 to adjust the tariff measures on some imported goods originating in the United States. Starting from 13:01 on February 14, 2019, the additional tariff rate will be adjusted to 5% for goods that have been taxed at 10% on September 1, 2019, and 2.5% for those that have been taxed at 5%. As far as tin is concerned, because China is a big producer of tin, the import and export of the upstream and downstream industrial chains of tin are mainly export-oriented. The overall impact of the import tariff reduction on the tin industry is relatively small. For individuals engaged in tin-related import enterprises, it reduces the enterprise cost to a certain extent. "View details

In 2020, Indonesia's Timah refined tin production will increase by 5% compared with the same period last year, which will monitor the price trend.

Abdullah Umar Baswedan, company secretary of Indonesian state-run tin miner PT Timah, said on Monday that the company's refined tin production is expected to increase by about 5 per cent this year. "this year's production target will be slightly higher than the actual output in 2019," he said. The increase may be about 5%, but we will monitor the price trend. "

Afritin Mining's first tin concentrate has been mined and transported, with a future monthly output of 60 tons per month.

Afritin Mining, a British-listed mining company, said that the first tin mine mined from the Uis mine in Namibia had been shipped out. According to the contract signed in the third quarter of last year, about six tons of tin with a grade of more than 60% were shipped in the first shipment and delivered to Thai smelting and refining companies. Afritin Mining CEO Anthony Viljoen said in a statement that the concentrate was produced at a pilot mining and processing facility at the Uis mine and will be followed by a second shipment, weighing about 20 tons. "as we increase our tin concentrate production to 60 tons per month, we will continue to deliver this business."

Yunxi Group: remarkable results have been achieved in the resumption of work and production in the whole industrial chain of tin main industry.

February 20, with the resumption of work and production efforts continue to increase, as the world's largest tin production and processing enterprises, Yunxi Group tin mining, smelting, deep processing gradually returned to normal. Under the premise of strictly implementing the "four in place" for epidemic prevention and control, the production and operation of the main tin industry is being organized in a standardized and orderly manner. Since the resumption of production on February 10, Yunxi Group has focused on prevention and control on the one hand and production on the other, focusing on the production of tin-based non-ferrous metal products, which has not only achieved the resumption of production of the whole tin industry chain, but also gradually restored production capacity. The output of products has also been rapidly increased. "View details

The world's second-largest tin producer will temporarily cut production and delay exports

PT Timah, the world's second largest tin producer and Indonesian tin miner, said it would temporarily cut production and postpone exports as novel coronavirus's epidemic affected tin demand. "in the current situation, many companies are shutting down production due to the coronavirus outbreak, which reduces demand and prices will continue to be revised," CEO RizaPahlevi said in a statement issued late Tuesday. It said it was delaying some exports and cutting monthly production by 20 per cent by 30 per cent while assessing global demand.

The fourth tin mine in the world stops production.

On April 2, AfriTin, an African mining company, announced that it would suspend open-pit mining in Yuis in order to comply with the blockade measures imposed by the Namibian government to prevent the spread of novel coronavirus. With the blockade measures taken by countries around the world, some tin mines have recently announced short-term closure in accordance with government policy. African Mining is the fourth company after Mingsu, MSC and Vento to suspend production because of novel coronavirus. It is reported that the Juyce mine began to produce tin concentrate in August 2019, with an annual production capacity of about 630 tons.

The latest mining plan of Australia's largest tin producer: a total of 98000 tons of refined tin ore is expected to be mined.

Metals X, Australia's largest tin producer, released the results of its mining optimization study in Zone 5 and the latest mining plan for its Renison tin business in Tasmania on Wednesday. Renison is 50 per cent owned by Metals X through Bluestone Mining's Tasmanian joint venture (JV). The study was commissioned in August 2019 as a starting point for the Renison (Renison) project to determine the best development strategy for Zone 5. The study determined that Renison currently has 61900 tons of tin in region 5, of which 3.3 million tons of tin ore reserves are 1.87% tin. Total Renison ore reserves increased by 46 per cent to 120300 tons of tin. The mine life of the Renison project has been extended to ten years. In the ten-year life of the mine, the output of high-grade zone 5 will account for 40% of the total tin mined.

Tin shares: the smelting branch intends to start production suspension and maintenance, and the estimated maintenance time is no more than 28 days.

Tin shares announced on the evening of June 23, 2020 that the smelting branch will stop production and overhaul tin smelting equipment in order to ensure the safe and effective operation of tin smelting equipment. The maintenance is scheduled to begin on June 24, 2020, and the maintenance time is expected to be no more than 28 days.

Metal X: mine grade increases, tin output increases 34% in the third quarter compared with the previous quarter.

On October 26th, MetalsXLimited released its third-quarter financial report that its third-quarter production was a record 2326 tons of tin concentrate (1733 tons in the previous quarter), mainly due to higher mine grade, which reached 1.58% tin (1.19% tin in the previous quarter) and began to develop towards high grade. Zone 5 has made progress, with the realization of metallurgical improvement plan and higher grade feed. The recovery rate of tin increased by 75.3% (compared with 71.3% in the previous quarter).

The world's largest tin smelting project has been completed and put into production. The original project has no plan to increase production for the time being.

On November 26, the world's largest tin smelting project, Yunxi tin smelting, was completed and put into operation in Mengzi Economic and technological Development Zone. The project has an investment of more than 3 billion yuan and an annual output of 70, 000 tons of refined tin, and the annual output of refined tin at full capacity will account for more than 20% of the global output. As far as SMM knows, this project is the relocation of the original project, and the person in charge of the relevant departments of Yunxi Company said that there are no plans to increase production in the future.