[SMM Analysis] Some refined tin smelters in Yunnan gradually resumed production, while production in Jiangxi held stable

According to the SMM survey, the combined operating rate of refined tin smelters in Yunnan and Jiangxi in the week ending May 31 was 64.39%, a slight rebound WoW. The operating rate of smelters in Yunnan rose to 63.52%. The environmental inspections in Gejiu, Yunnan, ended last week, leading to a gradual production resumption at some refined tin smelters, lifting the operating rate of smelters in Yunnan last week. The operating rate of smelters in Jiangxi was 65.86%, holding flat WoW. Most smelters in Jiangxi maintained normal production, with no maintenance plans in the near future. The current scrap supply is relatively stable, and some smelters have gradually increased scheduled production. Additionally, as environmental inspections in Gejiu have concluded, it is expected that some refined tin smelters that had halted production for maintenance will restart this week.