SHANGHAI: China’s tin smelters boosted output by 7% in April from the prior month to 15,298 tonnes, state-backed research house Antaike said on Monday in its survey of 20 producers.
Refined tin output in eastern China fell 8.9% month-on-month as smelters reduced rates for environmental inspections, Antaike said, but smelters unaffected by the audits in the tin heartland of Yunnan increased production significantly.
Smelters that shut for the extended Labour Day holiday in China from May 1-5 have restarted, said Antaike, which sees this month’s refined tin output at 15,000-16,000 tonnes. The restart of Yinman Mining’s tin mine in Inner Mongolia early this month will help alleviate tight supply of tin concentrate for smelters, Antaike said; China’s unrest-hit neighbour Myanmar is a key supplier of tin concentrate. Tin prices on the London Metal Exchange hit a 10-year high of $30,420 a tonne on Monday in a broad base metals rally.—Reuters
Comments
Comments are closed.