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[SMM News] at one point in the morning, Lunxi rose nearly 5% to recover all the ground lost in January.
Apr 14,2020 10:04CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM4, March 14: today's morning, Lunxi rose again, as of 10:05, Lunxi reported $15480 / ton, up 3.55%, once rose to $15650 / ton in the morning, up nearly 5%. Domestically, Shanghai tin reported 128260 yuan / ton, an increase of nearly 0.7 per cent. At one point in the morning, Shanghai tin rose more than 1 per cent, but then fell back, spitting out some of the gains.

On the news side, many tin producers have recently announced that they will cut production or stop production. Tianma, the world's largest tin producer, announced that it would delay some exports in March after the outbreak, cutting production by 20 to 30 per cent while measuring global demand. JFX sales fell 38 per cent in March from a month earlier to 4605 tonnes. Sales of refined tin fell in March through Jakarta Futures Exchange (JFX), Indonesia's main tin exchange, after Tianma announced a cut in production. Alpha Ming's tin concentrate production fell 5 per cent in the first quarter, with total concentrate production of 2119 tons in the first quarter, down 116 tons from the fourth quarter of 2019. In addition, (MSC), the Malaysian smelting group, and Minsur of Peru, the world's third and fourth largest refined tin producers, have recently announced a moratorium on production. AfriTin Mining of Namibia and Minera ã o Taboca, a subsidiary of Minsur in Brazil, also suspended production after Indonesian tin miner PT Timah announced a temporary cut in production and delayed exports, as did Bolivia's EM Vinto.

Read 1: "[SMM point of view] for days to recover nearly January lost supply side tightening tin prices can continue to repair?"

Read 2: "[SMM analysis] multiple positive superposition Shanghai and tin rose more than 3% to recover lost land in nearly 20 days

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