Belgium Metallo-Chimique International cuts tin ingot production
2023-03-17 07:48:58 [Print]
BEIJING (Asian Metal) 17 Mar 23 - Metallo-Chimique International NV Co., Ltd., the largest tin ingot 99.85%min producer in Belgium, would cut the production of tin ingot to about 600t in March due to sluggish deals.
"Discouraged by depressed demand in Europe during the past month, we decreased the production to about 600t this month, down by around 50t from last month," the source from the company disclosed. They disclosed that it's actually the second month in a row they've cut production this year, they produced around 680t in January.
Based on an annual production capacity of 10,000t, they purchases all kinds of tin-containing scraps to produce tin ingot. They produced about 9,000t of tin ingot in 2022 and exported to Germany, France, Netherlands and some Asian countries except China.
The mainstream prices of tin ingot 99.95%min stand at USD22,000-22,200/t EXW D/P in Europe on Thursday, down by USD150/t from yesterday. Discouraged by weak market demand, insiders predict that the mainstream prices of European tin ingot would go soft in the coming week.
"Discouraged by depressed demand in Europe during the past month, we decreased the production to about 600t this month, down by around 50t from last month," the source from the company disclosed. They disclosed that it's actually the second month in a row they've cut production this year, they produced around 680t in January.
Based on an annual production capacity of 10,000t, they purchases all kinds of tin-containing scraps to produce tin ingot. They produced about 9,000t of tin ingot in 2022 and exported to Germany, France, Netherlands and some Asian countries except China.
The mainstream prices of tin ingot 99.95%min stand at USD22,000-22,200/t EXW D/P in Europe on Thursday, down by USD150/t from yesterday. Discouraged by weak market demand, insiders predict that the mainstream prices of European tin ingot would go soft in the coming week.
