Maanshan Weitai increases tin ingot production
2023-03-23 08:23:38 [Print]
BEIJING (Asian Metal) 23 Mar 23 - A major tin ingot 99.95%min producer in Anhui, Maanshan Weitai Tin Co., Ltd., expanded the production to about 300t in March, the source from the company reported to Asian Metal.
"Although we resumed production on February 10th, we recorded no output in February due to limited raw materials. In March, we predicted to produce about 300t, up by 300t from last month," the source from the company stated. They would keep the same production next month.
This month, one of their four electric arc furnaces stopped production, and the other three are in normal operation. Based on an annual production capacity of 8,000t for tin ingot, the company purchases scrap tin from East China to produce tin ingot 99.95%min. They produced about 1,900t of tin ingot in 2022 and nearly 200t so far this year, holding no inventory now.
The mainstream prices of tin ingot 99.95%min stand at RMB185,000-187,000/t (USD26,928-27,220/t) EXW down in East China today, up by about RMB1,000/t (USD146/t) from yesterday. In view of slowly declining inventories and weak demand, insiders predict that the mainstream prices of Chinese tin ingot would edge down slightly tomorrow.
"Although we resumed production on February 10th, we recorded no output in February due to limited raw materials. In March, we predicted to produce about 300t, up by 300t from last month," the source from the company stated. They would keep the same production next month.
This month, one of their four electric arc furnaces stopped production, and the other three are in normal operation. Based on an annual production capacity of 8,000t for tin ingot, the company purchases scrap tin from East China to produce tin ingot 99.95%min. They produced about 1,900t of tin ingot in 2022 and nearly 200t so far this year, holding no inventory now.
The mainstream prices of tin ingot 99.95%min stand at RMB185,000-187,000/t (USD26,928-27,220/t) EXW down in East China today, up by about RMB1,000/t (USD146/t) from yesterday. In view of slowly declining inventories and weak demand, insiders predict that the mainstream prices of Chinese tin ingot would edge down slightly tomorrow.
