SHANGHAI, Mar. 27 (SMM) – Data from China Customs reveal that China’s refined tin and tin alloy imports were 1,213 mt in February, down 51.2% MoM and 68.2% YoY. Imports in the first two months were down 32.4% YoY to 3,700 mt.
LME tin prices fell to USD 23,000/mt in February, combined with depressed demand, China’s spot tin prices also kept falling during the month, with price gap between imported and domestic tin enlarging to RMB 30,000/mt, undermining traders’ interest in importing refined tin. Plus the onset of the Chinese New Year holiday, refined tin imports slipped as much as 51.2% in February.
In addition, tin concentrate imports during February also slumped 81.9% MoM to 3,195 mt, 2.1% lower than a year ago. Imports for the first two months hit 20,853 mt, an increase of 345.1% from a year earlier.
February’s tin concentrate imports returned to normal level compared with the surge in January. The noticeable growth in January was due mainly to Yunnan trader importing large amount from Myanmar.