Vietnam VQB increases tin ingot production
2024-04-25 08:13:30 [Print]
BEIJING (Asian Metal) 25 Apr 24 - One of major tin ingot 99.95%min producers in Vietnam, VQB Mineral and Trading Group Joint Stock Co., would increase the production of tin ingot to around 80t in April.
"Driven by active purchases, we would increase to nearly 80t this month, up by about 20t from last month," the source from the company disclosed. They added that they would try their best to look for raw materials and probably increase the production to around 100t next month.
The producer, based on an annual production capacity of 1,500t for tin ingot, purchases tin concentrate 40%min from Laos to produce tin ingot 99.95%min and mainly sells to Japan, South Korea and Philippines. They produced about 800t of tin ingot in 2023 and nearly 200t this year to date, holding no inventory now.
On Wednesday, the mainstream prices of tin ingot 99.95%min stand at USD321,100-32,200/t FOB Vietnam, down by USD180/t from yesterday. Most suppliers of tin ingot held positive views to the market due to active purchases from downstream clients. Therefore, insiders predicted that the mainstream prices of Vietnamese tin ingot would go up in the following days.
"Driven by active purchases, we would increase to nearly 80t this month, up by about 20t from last month," the source from the company disclosed. They added that they would try their best to look for raw materials and probably increase the production to around 100t next month.
The producer, based on an annual production capacity of 1,500t for tin ingot, purchases tin concentrate 40%min from Laos to produce tin ingot 99.95%min and mainly sells to Japan, South Korea and Philippines. They produced about 800t of tin ingot in 2023 and nearly 200t this year to date, holding no inventory now.
On Wednesday, the mainstream prices of tin ingot 99.95%min stand at USD321,100-32,200/t FOB Vietnam, down by USD180/t from yesterday. Most suppliers of tin ingot held positive views to the market due to active purchases from downstream clients. Therefore, insiders predicted that the mainstream prices of Vietnamese tin ingot would go up in the following days.
