October 07, 2008

Chinese tin output down again in April 2008

Official non ferrous metals production figures published by China’s National Bureau of Statistics showed that tin is again the only major metal for which a fall in output was reported. April production of refined tin was 11,703 tonnes, down by 10.5% YoY, while cumulative production in the January to April 2008 period, at 42,183 tonnes, and is down by 11.9% YoY.

The decline in tin production was partly due to extreme bad weather in January to February 2008, but also reflects a continuing shortage of concentrates and scrap for smelters. However the recent earthquake in Sichuan has not had any impact on tin operations.

Despite the fall in production, tightness in the Chinese refined tin market has eased considerably since March 2008. Domestic spot prices including duty and VAT are currently quoted at around CNY 159,000 per tonne.

(Sourced from ITRI)