China's Tin Imports Remain Low in March on High Import Costs and Tepid Demand

SHANGHAI, Apr. 28 (SMM) – China’s refined tin imports remained low in March at 889 tonnes due mainly to high import prices and soft demand.

China imported 889 tonnes of refined tin in March, up 323.3% on the month, but falling 45.5% year-on-year, China Customs data showed. Total imports through the first quarter dropped 64.3% from a year ago to 1,831 tonnes.

SMM believed the high import price was the culprit for low import volume. LME tin prices have hovered at $23,000 per tonne in March, while average tin price in China’s physical market fell from 142,750 yuan per tonne to 139,000 yuan per tonne, leaving few profitable opportunities for importing tin.

Another contributing factor was still the sluggish demand in China’s market.