SHANGHAI, Apr. 1 (SMM) – China imported only 210 tonnes of refined tin in February, the lowest since SMM records began in 2004, due mainly to high overseas prices and weak demand.
Tin imports fell 71.3% on the month in February, and were down 81.7% from a year earlier. Total imports in the first two months dropped 73.1% to 941 tonnes.
China’s monthly refined tin imports have remained below 1,000 tonnes since September 2013. Spot tin prices in China rose more slowly than tin prices on the London Metal Exchange in February, dampening tin imports. That, combined with the Chinese New Year holiday, caused China’s imports to fall sharply.
In addition to the lower prices in domestic market, SMM believed sluggish demand downstream also resulted in a slump in tin imports. Traders contacted by SMM said they would not build considerable stocks for fear of losses.