According to the latest in-depth survey data from SMM over the past week, as of last Friday, the operating rates of refined tin smelters in Yunnan and Jiangxi provinces remained stable overall at 64.69%. Specifically, the operating rates of smelters in Yunnan remained stable last week. Further data from SMM indicates that most smelters are still facing tight raw material supplies, with procurement becoming more difficult than before. Some smelters are considering reducing their production schedules for next month. Based on the current raw material market supply situation and industry trends, the operating rates of smelters in Yunnan are not expected to achieve significant growth in the future. In Jiangxi, the operating rates of smelters also remained stable last week. Most companies continued to maintain stable production, but considering that scrap supply is not as abundant as in Q1 and Q2, in the long run, the supply situation is unlikely to support further production increases for smelters in Jiangxi. In summary, due to the increasing severity of the shortage of tin concentrate and secondary tin raw materials, the production schedules of some smelters are expected to be adjusted downward in the future.
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