[SMM Analysis] Operating Rates of Smelters in Yunnan and Jiangxi Dropped Slightly

According to the latest survey data from SMM, as of last week (as of August 2), the operating rates of refined tin smelters in Yunnan and Jiangxi provinces have dropped slightly, with a comprehensive operating rate calculated at 64.28%. In-depth analysis shows that the operating rate of smelters in Yunnan last week slightly decreased to 65.32%. Further surveys by SMM indicate that most refined tin smelters in Yunnan maintained normal production last week, with no short-term plans for production cuts, and some companies' maintenance plans have not yet started. A few companies have reduced their scheduled production, and it is expected that due to tight raw material supply, some companies' scheduled production will gradually shrink, making it difficult for the operating rates of smelters in Yunnan to increase in the future. Looking at Jiangxi, the operating rate of smelters was 62.51%, showing a certain degree of decline. Currently, most smelters in Jiangxi are at normal production levels, with no recent plans for equipment maintenance, but a few smelters have slightly reduced their scheduled production due to extremely tight tin ore supply. Most secondary smelters have reported that raw material supply is relatively sufficient, and it is expected that the current operating rate will be maintained in the future.