By Paul Ploumis 01 Jul 2015 Last updated at 02:38:21 GMT
BEIJING (Scrap Monster): The Chinese imports of refined tin dropped sharply during the month of May this year. The imports by the country totaled 333 tonnes during the month. The falling market demand and sufficient supplies from domestic industry are cited as the reason for sharp plunge in imports of refined tin and other tin products.
The refined tin imports by the country in May ’15 were sharply lower by 69% when compared with the imports of 1,070 tonnes in April this year. The imports were also down by nearly 48% when compared with the imports during the same month a year before. The Chinese refined tin imports had totaled 645 tonnes during May ’14. The arbitrage gap has widened in May when compared with the previous month. The cumulative refined tin imports by China during the initial five-month period from January to May this year totaled 2,762 tonnes, almost in line with the imports of 2,880 tonnes during Jan-May ’14.
The tin concentrate imports by the country too cooled off from the highs reported during the month before. The imports totaled 21,715 tonnes during the month. According to industry participants, the release of government stock had resulted in flow of concentrate imports from Myanmar. This had let to sudden surge in imports during April. However, imports returned to normal levels during May this year. With the advent of rainy season in Myanmar, the government stocks are likely to fall further. This may lead to further fall in tin concentrate imports from that country.
The Chinese tin concentrate imports during the initial five-month period of the year totaled 113,051 tonnes in gross weight, significantly higher by 79% when compared with the imports during the corresponding five-month period in 2014.