Asian Metal visits Menglian Zhongyu Mining and Wa State Yuanmu Mining

On the afternoon of January 18th 2018, Yao Guangzhi, the market analyst of Asian Metal visited Menglian Zhongyu Mining Co., Ltd. and Wa State Yuanmu Mining Company with Wangyang from Guomao Qirun Asset Management Co., Ltd., Qiu Zuxue from Industrial Securities, Zhai Yuhang and Xia Yunlong from China AMC, Lai Zhengjian and Wang Wei from Chenxi Fund, Zou Lihu from UBC SDIC and Sun Zhaohui from Guotai Asset Management Co., Ltd. The two parties conducted in-depth communication on the supply of Burma origin tin ore at present and in the future.

Firstly, Yao Guangzhi, as well as the above members, visited Menglian Zhongyu Mining and was warmly received by Tao Hongbo, the business manager of the company. Mr. Tao revealed that their imported tin concentrate from Burma will decrease sharply after the Spring Festival and the supply of tin concentrate may become tight in 2018.

Subsequently, Mr. Tao showed Yao Guangzhi and other members around transit warehouse and bonded warehouse in Meng'a port and gave an introduction of current storage conditions.

Subsequently, Yao Guangzhi, with above participants, visited Wa State Yuanmu Mining Company and was warmly welcomed by Bao Yanshang, the manager of the company. According to Bao Yanshang, the grade of tin concentrate declines a lot at present and the mainstream grade of raw ore has decreased to 1-1.5%. The production of tailings also reduces sharply and there are no new valuable mines which can be exploited. Therefore, the supply of Burma origin tin concentrate will see a sharp reduction in 2018 and tin prices may move up in the Chinese market.

Furthermore, the above members also visited the warehouse of the Ministry of Finance and the transit warehouse of Wa State ushered by the source and the tin ore stocks declined a lot compared with those of the same period in past few years.