Tin prices continue to rebound
2013-12-11 09:38:17 [Print]
BEIJING (Asian Metal) 11 Dec 13 – Tin prices in China kept rising early this week, tracking the gains of tin futures on the LME. Some buyers came back to make purchase, and the trading improved slightly.
A producer in Yunnan with the output of 3,000tpm offered tin ingot at RMB144,000/t (USD23,568/t) ex works this Tuesday, up by about RMB1,000/t (USD164/t) compared with that in the previous day. “After the price starts to rise, more buyers come back to rebuild stocks,” said the source, adding that some producers without capital pressure begin to hold on from selling.
The source attributed the price rally to news about Indonesia export ban for minerals. “However, considering the sluggish demand, I think tin prices may not go up sharply and are likely to fluctuate at RMB145,000/t (USD23,732/t) in the near term,” said the source, adding that they hold large stocks on hand.
Another producer in Yunnan with the production of 400tpm sold a small batch of tin ingot at RMB143,000/t (USD23,404/t) this Tuesday, up by about RMB500/t (USD82/t) compared with that this Monday. “Some end-users start to replenish stocks for the coming Spring Festival holiday, and we receive more orders,” said the source, adding that they are active in selling stocks to circulate capital.
The source analyzed that Indonesian tin exports keep rising, and tin supply remains abundant. In addition, tin market trend is unclear, and consumers dare not make bulk purchase. “I think tin prices may not go up or down sharply in the rest days of this month,” said the source, adding that their tin production may reach 4,800t in 2013.
A producer in Yunnan with the output of 3,000tpm offered tin ingot at RMB144,000/t (USD23,568/t) ex works this Tuesday, up by about RMB1,000/t (USD164/t) compared with that in the previous day. “After the price starts to rise, more buyers come back to rebuild stocks,” said the source, adding that some producers without capital pressure begin to hold on from selling.
The source attributed the price rally to news about Indonesia export ban for minerals. “However, considering the sluggish demand, I think tin prices may not go up sharply and are likely to fluctuate at RMB145,000/t (USD23,732/t) in the near term,” said the source, adding that they hold large stocks on hand.
Another producer in Yunnan with the production of 400tpm sold a small batch of tin ingot at RMB143,000/t (USD23,404/t) this Tuesday, up by about RMB500/t (USD82/t) compared with that this Monday. “Some end-users start to replenish stocks for the coming Spring Festival holiday, and we receive more orders,” said the source, adding that they are active in selling stocks to circulate capital.
The source analyzed that Indonesian tin exports keep rising, and tin supply remains abundant. In addition, tin market trend is unclear, and consumers dare not make bulk purchase. “I think tin prices may not go up or down sharply in the rest days of this month,” said the source, adding that their tin production may reach 4,800t in 2013.
Tin Ingot 99.95%min EXW China
Unit:RMB/mt
China tin ingot producers' inventory statistics by province by month
Unit: mt
