SHANGHAI, Jun. 4 (SMM) – Here are major events in China tin markets during the past week:
China Tin Ore Imports Surged Jan.-Apr.
China Customs reported that China’s tin ore and concentrate imports in April fell 73.1% MoM and 16.4% YoY to 3,166 mt, but the imports for the first four months surged 212.3% to 35,801 mt.
The sharp decline in April’s imports was mainly compared with the soaring import volume in March.
China’s tin mine consolidation and lower grade for domestic tin ore drove up demand for imported ore, causing tin ore imports to surge in through the first four months. Given the growth spurt in January and March, import for the first four months staged an over two-fold increase.
China Refined Tin Imports Slump in April
According to China Customs, China’s refined tin imports in April dropped 26.5% MoM and 30.7% YoY to 1,198 mt, and YTD imports through April were down 34.4% YoY to 6,324 mt.
The Shanghai/LME tin price ratio was still unfavorable for importing refined tin in April, combined with weak domestic consumption, refined tin imports were rather low in April.
China Refined Tin Output Increased to 14,400 Mt in April
Data from the China Nonferrous Metals Industry Association revealed that refined tin output in April rose 11.9% MoM and 30.9% YoY to 14,361 mt, while YTD output through April was 48,536 mt, up 4.3% YoY.
Tin output in Yunnan province rose 10.7% MoM to 8,965 mt, while output in Guangxi increased 141.6% to 1,365 mt. Output in Hunan increased 9.9% to 2,944 mt, and that in Jiangxi was 1,039 mt, down 29.0%.
Tin Output in Hechi Down 87.9%
Tin output in Guangxi’s Hechi city fell 22.2% YoY to 7 mt in April, while output for the first four months plunged 87.9% YoY to 24 mt.