Shanghai Nonferrous Metals News
ITA: China remains the world’s largest refined tin producer with output of 75 kt in H1 2019, down 10% on-year. According to ITA surveys of 15 tin smelters in China, total June output was 12.5 kt, down 9% on-month and down 9% on-year respectively. The decline can be attributed to shrinking tin concentrate supplies from Burma and weakening downstream demand in China. In the year to date, tin prices in the SHEF market have fallen to RMB 134,000/t, a decline of nearly 8% on-year. According to ITA analysts, refined tin output is likely to drop further once prices drop below RMB 140,000/t given relatively high prices of tin concentrates from Burma.