SHANGHAI, Dec 21 (SMM) – According to customs data, China imported 1,016 mt of refined tin in November, up 40.92% MoM but down 43.49% YoY, and the exports of refined tin in November stood at 695 mt, up 23.67% MoM AND 76.10% YoY.
China’s net import volume of refined tin in November was 321 mt.
The significant increment in the imports was contributed by Indonesia. The imports of refined tin from Indonesia were 967 mt in November, and increase of 103.15% from October, accounting for 95% of the total imports.
The import window of refined tin remained open in November, and the imports increased amid eased pandemic in Southeast Asian as well as the resumed production in Indonesia.
MSC Malaysia will end the force majeure state in the near future, where the production will gradually return to normal.
SMM will continue to track the imports from Southeast Asia as the import window is open. The domestic spot market sees moderate consumption of imported goods, so the imports are expected to increase further in the short term.
China’s exports of refined tin to Asian regions increased significantly on the month in November, as all the exports were to Asian regions.
The exports of refined tin are expected to stabilise amid open import window, and the major importers will still be Asian regions.
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