Maanshan Weitai increases tin ingot production
2024-03-12 08:23:58 [Print]
BEIJING (Asian Metal) 12 Mar 24 - A major tin ingot 99.95%min producer in Anhui, Maanshan Weitai Tin Co., Ltd., would increase the production of tin ingot to about 200t in March.
"We resumed production on February 26th and would probably produce around 200t in March, up by about 200t from last month," the source from the company reported. They added that they would increase the production next month.
The producer, based on an annual production capacity of 8,000t for tin ingot, purchases tin scrap from East China to produce tin ingot 99.95%min. They produced about 2,400t in 2023 and around 80t so far this year, holding no inventory now.
As the market saw oversupply and most downstream clients purchased from hand to mouth, the current mainstream prices of tin ingot 99.95%min stand at RMB218,000-220,000/t (USD30,321-30,600/t) EXW 100% down in East China, down by about RMB2,000/t (USD278/t) from last Friday. Discouraged by dim market, insiders predicted that the mainstream prices of Chinese tin ingot would go down in the following days.
"We resumed production on February 26th and would probably produce around 200t in March, up by about 200t from last month," the source from the company reported. They added that they would increase the production next month.
The producer, based on an annual production capacity of 8,000t for tin ingot, purchases tin scrap from East China to produce tin ingot 99.95%min. They produced about 2,400t in 2023 and around 80t so far this year, holding no inventory now.
As the market saw oversupply and most downstream clients purchased from hand to mouth, the current mainstream prices of tin ingot 99.95%min stand at RMB218,000-220,000/t (USD30,321-30,600/t) EXW 100% down in East China, down by about RMB2,000/t (USD278/t) from last Friday. Discouraged by dim market, insiders predicted that the mainstream prices of Chinese tin ingot would go down in the following days.
