South American tin concentrate market saw tight supply
2023-03-17 09:20:17 [Print]
BEIJING (Asian Metal) 17 Mar 23 - As the SAN Rafael mine, the largest one in South America, suspended production since early January, South American tin concentrate market witnessed tight supply. The current mainstream South American tin concentrate 70%min stand at USD22,000-22,100/metal ton FOB South America, down by USD 150/metal tons from yesterday. As the market supply would keep tight, most insiders predict that the mainstream prices of South American tin concentrate would rebound in the following days.
A Peru-based trader claimed, "We quoted about USD20,600/metal tons FOB South America for tin concentrate 50%min with no more concession today, down by USD150/t from yesterday. However, we couldn't conclude any deal these two days due to no stock in hand now". While they last sold about 100 metal tons at USD 23,000/metal tons without bargaining early this month. They claimed that the largest mine in South America, the SAN Rafael Mine, suspended production for more than two months, with an estimated supply shortage of 5,500 metal tons. Therefore, they predicted that the mainstream prices of South American tin concentrate would rebound in the upcoming week.
The trader, based on a regular monthly sales volume of around 500 metal tons, plans to sell about 300 metal tons in March, unchanged MoM, holding no inventory for the time being.
"We didn't close any deal this week due to shortage of tin concentrate," another trader in Bolivia reported. They last sold 60 metal tons of tin concentrate 70%min at around USD23,000/metal ton FOB South America and refused any lower price on March 6th. They said that it's hard to replenish stocks currently, so they believed that the mainstream prices of South American tin concentrate would rebound in the following days.
With a typical monthly sales volume of around 200 metal tons, they plan to sell about 60 metal tons in March, down by 30 metal tons from last month. They hold no stock currently.
A Peru-based trader claimed, "We quoted about USD20,600/metal tons FOB South America for tin concentrate 50%min with no more concession today, down by USD150/t from yesterday. However, we couldn't conclude any deal these two days due to no stock in hand now". While they last sold about 100 metal tons at USD 23,000/metal tons without bargaining early this month. They claimed that the largest mine in South America, the SAN Rafael Mine, suspended production for more than two months, with an estimated supply shortage of 5,500 metal tons. Therefore, they predicted that the mainstream prices of South American tin concentrate would rebound in the upcoming week.
The trader, based on a regular monthly sales volume of around 500 metal tons, plans to sell about 300 metal tons in March, unchanged MoM, holding no inventory for the time being.
"We didn't close any deal this week due to shortage of tin concentrate," another trader in Bolivia reported. They last sold 60 metal tons of tin concentrate 70%min at around USD23,000/metal ton FOB South America and refused any lower price on March 6th. They said that it's hard to replenish stocks currently, so they believed that the mainstream prices of South American tin concentrate would rebound in the following days.
With a typical monthly sales volume of around 200 metal tons, they plan to sell about 60 metal tons in March, down by 30 metal tons from last month. They hold no stock currently.
