Ports in Myanmar Closed on COVID-19, Tin Ore Imports Declined Sharply MoM in November

SHANGHAI, Dec 20 (SMM) – Tin ore and concentrate imports stood at 11,831 mt in November, down 40.35% on the month and 32.53% on the year; the accumulative imports totalled 170,975 mt in January-November, up 20.42% on the year.

Myanmar, Australia, DR Congo and Bolivia among others are the main exporters. The imports from Myanmar are 7184 mt, or 1796 mt in metal content which is equivalent to 25% of the average grade; the imports from other countries stand at 4647 mt, or 2324 mt in metal content which is equivalent to 50% of the average grade. The volume of imported tin ore in November was about 4,120 mt in metal content.

The significant month-on-month decrease in imports in November was due to the closure of ports on the worsening pandemic in Myanmar. Imports from Myanmar fell by as much as 56.1%. Although the total imports of other countries increased by 33.92% from the previous month, it cannot make up for the gap of Myanmar. Imports from Bolivia and Australia rose sharply. Bolivia resumed exports in November and maintained exports of more than 1,000 mt while Australia saw a month-on-month increase of about 100%. On the whole, domestic smelters maintained stable production. The shortage of supply caused by the closure of ports in Myanmar has stimulated the willingness of other countries to export. The ports closed on the pandemic in Myanmar will reopen in the near future, which will help alleviate the current tight supply of ore raw materials in domestic smelters. On the other hand, there is no obvious sign of a reduction in TCs as domestic smelters hold prices firm.