SMM Data: China’s Refined Tin Output In August And Forecast For September

SHANGHAI, Sep 12 (SMM) – SMM research said that domestic refined tin output was 10,621 mt in August, down 6.79% MoM and 25.41% YoY. Total output from January to August was 106,740 mt, up 4.68 YoY. A mild drop in tin ingot in August was largely pinned on shrinking tin ore supply of an Inner Mongolia-based smelter and shut-down of an Anhui-based smelter for maintenance. Most smelters kept operation stable, while a smelter in Yunnan resumed operation from maintenance, partially adding tin ingot production, and will be in normal operation in September, serving as a key driver for tin output hike by then. Tin scrap supply tightness made it tougher for smelters in Jiangxi, Guangdong, and Zhejiang to purchase goods. While tin ore supply will be ample on the near-term horizon, thanks to a slew of imported tin ore flowing into China from June to August. In addition, rising TCs of tin ore in Yunnan will be reported. Under such circumstance, tin ore-related smelters will have a peaceful and productive environment in a near future. However, if tin mines in Myanmar's Wa State remain being shut, a tin ore supply crunch in China will linger in a long run. Recently, more imported tin ingot will significantly fill domestic tin market supply.