Refined Tin Output in Jan was Slightly Lower than Expected

SHANGHAI, Feb 9 (SMM) - Domestic refined tin output in January was 11,990 mt, down 24.61% MoM and 11.77% YoY, and the combined output from January to December 2022 increased 0.42% YoY, according to SMM research. The actual output was slightly lower than expected.

The year-on-year decrease was caused by the earlier CNY holiday while the month-on-month decrease caused by the obvious decline in operating rates amid the CNY holiday. 1. In Yunnan, the output decreased significantly month-on-month as expected due to the CNY holiday. 2. The impact of CNY holiday on the output in Guangxi was insignificant, but the tight raw material supply led to expectations of sharp output cut in February. 3. The output in Jiangxi declined slightly as mainstream smelters maintained normal production during the CNY holiday. The output in February is expected to remain stable. 4. The total output of smelters in other regions decreased month on month in January as most smelters produced stably while some smelters reduced the production amid raw material shortage.