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SMM Analysis: China Tin Concentrate Imports Recovered MoM in June, Mainly Contributed by Myanmar
Jul 20, 2022 16:57CST
Source:SMM
SHANGHAI, Jul 20 (SMM) - Customs data showed that China’s import volume of tin ore and concentrate in June 2022 was 14,125 mt, a year-on-year drop of 18.55%.

SHANGHAI, Jul 20 (SMM) -  Customs data showed that China’s import volume of tin ore and concentrate in June 2022 was 14,125 mt, a year-on-year drop of 18.55%; the cumulative import volume from January to June was 128,208 mt, a year-on-year rise of 43.68%. 
Tin ore was mainly imported from Myanmar, Congo (DRC), Australia, and Nigeria in June. Among them, 8,894 mt was imported from Myanmar, equivalent to 2,224 mt in metal content when calculated at an average grade of 25%. The import volume from other countries was about 5,231 mt, or 2,616 mt in metal content when calculated at an average grade of 50%. The total tin ore imports in June were 7,847 mt in metal content. Imports from Myanmar rose over 100% month-on-month in June. The pandemic continued to disrupt tin ore exports from Myanmar. Major Chinese tin smelters were closed for maintenance in late June. However, imports from Myanmar jumped as enormous amount of tin ore was cleared through customs in middle of the month when the port was open. The total imports of other countries remained stable in June. The import from Congo (DRC) and Russia dropped significantly, while that from Australia and Bolivia increased significantly. China imported tin ore from Brazil for the first time this year. 
The ongoing pandemic will affect the efficiency of tin ore imports. Myanmar’s tin ore export tariff hike that took effect from July will also have a substantial impact on the profits of mining companies. On the demand side, mainstream domestic tin smelters are about to resume production. Despite lower TCs, smelters are somehow passionate about production.   
To sum up, lower TCs will partly mitigate the impact of export tariff hike on profits, and the resumption of production of smelters will boost demand for raw materials. As such, SMM expects that the import volume of tin concentrates in July will increase slightly.

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