SHFE Tin Surges in the Afternoon, with Gejiu Plants Suspending

SHANGHAI, Nov.24 (SMM)－SHFE Tin surges in the afternoon, ending downward tendency yesterday. Up to daytime closure, Contract 1801 rises 0.86% at 143,280 yuan per ton.

The main reason is that Gejiu City of Yunnan Province will encounter a major environmental inspection in year-end. All tin smelting plants except Yunnan Tin are expected to accept inspection.

Local insider says the inspection team will arrive in Gejiu this weekend. Tin plants will suspend production from next week. Since the inspection lasts for a long time, duration of the production suspension remains to be confirmed, which is very likely to exceed one week.

Currently Yunnan Chengfeng, Gejiu Yunxin and Gejiu Nonferrous Metals Processing have suspended production already. As per SMM research to insiders from Gejiu Zili, Gejiu Kaimeng and Gejiu Jinye, these plants will stop production from next week as per notice requirement.

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