Last big month for Chinese tin imports?
Release date: 22 Jun 2009
itri.co.uk
China’s imports of refined tin and alloys in May amounted to 3,360 tonnes, 160% higher than in May 2008, but down from the record level of 4,817 tonnes reached the previous month. Cumulative imports in the first five months of the year, at 12,579 tonnes, were almost exactly double the year-ago total, but the disappearance of the previously large premium of Chinese domestic prices over the LME since early May has since removed arbitrage opportunities. More recently the Chinese price has been at a substantial discount to the LME after allowing for duty and VAT.
Almost half the tin imported in the year to date has come from Indonesia (6,266 tonnes), with Malaysia (1,661 tonnes), Bolivia (897 tonnes) and Thailand (644 tonnes) being the other main sources.
Meanwhile the latest customs figures show that imports of ores and concentrates have fallen in the year to date. Total imports (gross weight) amounted to only 2,021 tonnes, down 42% year-on-year, with Bolivia (867 tonnes) the main source. |
