By Paul Ploumis 27 Jul 2015 Last updated at 06:20:46 GMT
BEIJING (Scrap Monster): The Chinese imports of tin ore and concentrate from Myanmar continued to rise during the month of June this year. According to data released by Chinese customs authorities, the Chinese imports from Myanmar during the month totaled 24,632 tonnes in gross weight. The imports have surged higher by 55% when compared with those during same month a year before. Also, the cumulative imports during the first half of the year totaled 135,179 tonnes, up 78% when matched with the previous year.
According to ITRI estimates, the total tin content in exports during the six month period from January to June this year amounted to nearly 22,000 tons. The excessively high content is on account of the local government stock sales during the months of April and May. The late mosoon season in Myanmar also pushed exports from that country higher during the month of May and June this year.
ITRI forecasts the third quarter exports from Myanmar to remain lower. The depletion of resources at open-pit mines may offset the rise in production on account of expanded ore processing capacities and improved transportation facilities. Consequently, ITRI declined to forecast the Q4 shipment quantity. However, it predicts the total Myanmar output to touch 35,000 tons during the entire year 2015. However, the situation will be closely monitored and revision to the targets will be announced, if necessary, ITRI added.
It must be noted that Yunnan Tin Group Company had earlier predicted sharp drop in tin output from Myanmar.