Tin market recorded slight deficit in Jan-Feb 2015

 

BRUSSELS (Scrap Monster): According to the latest published metals balances report by the World Bureau of Metal Statistics (WBMS), the worldwide Tin market has recorded a marginal deficit during January to February this year. There were no DLA deliveries during the two-month period, the data said.

 

As per WBMS data, the global Tin market recorded slight deficit of 1.0 kt during the initial two months of the year from January to February.

 

Global refined Tin production witnessed rise of 0.7 kt during the two-month period. The above production figure is without taking into account re-processed LME metal.

 

The global demand for the metal rose by 1% when matched with January to February in 2014. The demand totaled 61 kt during this period. The Chinese apparent demand rose by 5.9% over the previous year. The Japanese demand for the metal too rose significantly by over 12% when matched with the levels recorded during Jan-Feb ’14. The Japanese consumption totaled 5.3 kt, higher by 0.6 kt when compared with 4.7 kt demand recorded during January to February in 2014.

 

The reported stock of the metal declined by 1.0 tonne during the month of February. The stock at the end of two-month period was lower by 1.3 kt when compared with Dec ’14 levels.

 

During the month of February alone, the global refined Tin production totaled 30.1 kt, as against the demand of 30.7 kt.