06 Apr 2015 Last updated at 03:14:22 GMT
BEIJING (Scrap Monster): The latest production statistics released by the Beijing-based China Nonferrous Metals Industry Association (CNIA) indicates that the country’s refined tin output increased during the initial two-month period of the year. The country also witnessed significant surge in tin concentrate imports from Myanmar during this period.
According to CNIA data, the refined tin production by the country jumped higher by 7.6% to 27,579 t during the two-month period from January to February this year. The increased production levels were mainly on account of late Spring Festival holidays. However, the declining prices are likely to put pressure on Chinese producers during March. Consequently, production levels are likely to drop in the following months.
The country imported 41,251 t tin concentrate during the first two months of 2015. The imports soared higher by 89% over the previous year. The Chinese imports from northern Myanmar saw considerable increase due to the confrontation between government troops and rebel forces. In fact, 96% of the Chinese concentrate imports were from Myanmar. The concentrate imports during the month of February alone jumped almost six times higher when compared with the previous year.
The widening of gap between Chinese prices and LME Tin prices triggered more imports into the country. The country’s refined tin imports rose nearly 20% to 1,126 t during January to February this year. Out of this, 891 t refined tin was imported during the month of February alone. China had imported 938 t of refined tin during the corresponding two-month period in 2014.