Many tin smelters hold off making transactions temporarily
2016-03-15 11:03:14 [Print]
BEIJING (Asian Metal) 15 Mar 16 - Mainstream transaction prices for Chinese tin ingot stood at RMB109,500-112,000/t (USD16,846-17,231/t) on Monday, unchanged from last Friday. As the market outlook remains unclear at the beginning of the week, smelters generally hold off sealing deals.
A Yunnan-based tin smelter indicated that they temporarily stopped making quotations to the public on Monday. “On the one hand, we failed to replenish raw material in time; on the other hand, tin prices may go up in view of the tight supply at present,” said the source, adding that tin smelters hold a small amount of stocks at the moment, which may stimulate tin prices to rise in the future. The source anticipated that tin prices may move up to around RMB115,000/t (USD17,692/t) in the future.
With an annual capacity of 8,000t of tin ingot, their plant produced 430t of the material in February, recording a slight decline compared with the 460t in January, and still has 200-300t of the material in inventory at the moment.
Another Yunnan-based tin smelter quoted RMB112,000/t (USD17,231/t) for tin ingot on Monday, RMB2,000/t (USD308/t) higher than the mainstream price and up by RMB2,000/t (USD308/t) from last Friday. “We have no intention of concluding deals with only a small amount of stocks, so we raise our offer on purpose,” noted one source from the plant, who predicted that tin prices may shift upward in the future.
With an annual capacity of 6,000t of tin ingot, the smelter only produced less than 80t of the material in February due to the Spring Festival holiday, recording a sharp dip compared with the output of nearly 300t in January, and holds less than 50t of stocks on hand for the time being.
A Yunnan-based tin smelter indicated that they temporarily stopped making quotations to the public on Monday. “On the one hand, we failed to replenish raw material in time; on the other hand, tin prices may go up in view of the tight supply at present,” said the source, adding that tin smelters hold a small amount of stocks at the moment, which may stimulate tin prices to rise in the future. The source anticipated that tin prices may move up to around RMB115,000/t (USD17,692/t) in the future.
With an annual capacity of 8,000t of tin ingot, their plant produced 430t of the material in February, recording a slight decline compared with the 460t in January, and still has 200-300t of the material in inventory at the moment.
Another Yunnan-based tin smelter quoted RMB112,000/t (USD17,231/t) for tin ingot on Monday, RMB2,000/t (USD308/t) higher than the mainstream price and up by RMB2,000/t (USD308/t) from last Friday. “We have no intention of concluding deals with only a small amount of stocks, so we raise our offer on purpose,” noted one source from the plant, who predicted that tin prices may shift upward in the future.
With an annual capacity of 6,000t of tin ingot, the smelter only produced less than 80t of the material in February due to the Spring Festival holiday, recording a sharp dip compared with the output of nearly 300t in January, and holds less than 50t of stocks on hand for the time being.
Tin Ingot 99.95%min EXW China
Unit:RMB/mt
China tin ingot producers' inventory statistics by province by month
Unit: mt
