Thailand Hua Yong Heng reduces tin ingot production
2024-04-24 08:28:13 [Print]
BEIJING (Asian Metal) 24 Apr 24 - Thailand Hua Yong Heng Co., Ltd., one of tin ingot 99.85%min producers in Thailand, would decrease the production to about 20t in April.
"Discouraged by dim market, we would decrease the production to about 20t this month, down by around 10t from last month," the source from the company revealed. They stated that they have no plan to increase the production next month.
The company, based on an annual production capacity of 2,000t for tin ingot, mainly purchased tin concentrate 30%min-40%min and tin scrap to produce tin ingot 99.85%min. They produced about 600t of tin ingot in 2023 and around 150t in Q1 this year, holding no inventory now.
On Tuesday, the mainstream prices of tin ingot 99.85%min stand at USD32,500-32,600/t EXW D/P in Thailand, down by nearly USD1,700/t from yesterday. As most downstream clients purchased from hand to mouth, the market saw sluggish deals. Thus, insiders predicted that the mainstream prices of Thai tin ingot would move down in the coming days.
"Discouraged by dim market, we would decrease the production to about 20t this month, down by around 10t from last month," the source from the company revealed. They stated that they have no plan to increase the production next month.
The company, based on an annual production capacity of 2,000t for tin ingot, mainly purchased tin concentrate 30%min-40%min and tin scrap to produce tin ingot 99.85%min. They produced about 600t of tin ingot in 2023 and around 150t in Q1 this year, holding no inventory now.
On Tuesday, the mainstream prices of tin ingot 99.85%min stand at USD32,500-32,600/t EXW D/P in Thailand, down by nearly USD1,700/t from yesterday. As most downstream clients purchased from hand to mouth, the market saw sluggish deals. Thus, insiders predicted that the mainstream prices of Thai tin ingot would move down in the coming days.
