Empresa Metalúrgica Vinto S.A. (Vinto) suspended the tin concentrate production
2023-03-31 09:14:32 [Print]
BEIJING (Asian Metal) 31 Mar 23 - Due to coal supply shortage, Empresa Metalúrgica Vinto S.A. (Vinto) Co., Ltd., the largest tin ingot 99.95%min producer in Bolivia, suspended production since the middle of this month and produced about 300t in March.
"We had to halt the production due to insufficient coal caused by trade restricted across Bolivia and Peru. We suspended the output since the middle of this month and produced about 300t this month to date, down by 550t from last month," the source from the company to Asian Metal, and added that production was unlikely to resume next month.
Based on an annual production capacity of 20,000t, they totally produced about 10,000t of tin ingot in 2022 and around 1,600t so far this year, holding no inventory now. They purchased tin concentrate from Peru to produce tin ingot 99.95%min and owned eight furnaces of 1,250kVA. The company is directly controlled by the Bolivian government, which essentially buys its goods and exports them abroad.
On Thursday, the mainstream prices for tin ingot 99.95%min stand at USD25,700-25,800/t in Bolivia, up by about USD100/t from yesterday. Due to the reduction of tin ingot supply in the market, insiders predict that the prices of Bolivian tin ingot would go up tomorrow.
"We had to halt the production due to insufficient coal caused by trade restricted across Bolivia and Peru. We suspended the output since the middle of this month and produced about 300t this month to date, down by 550t from last month," the source from the company to Asian Metal, and added that production was unlikely to resume next month.
Based on an annual production capacity of 20,000t, they totally produced about 10,000t of tin ingot in 2022 and around 1,600t so far this year, holding no inventory now. They purchased tin concentrate from Peru to produce tin ingot 99.95%min and owned eight furnaces of 1,250kVA. The company is directly controlled by the Bolivian government, which essentially buys its goods and exports them abroad.
On Thursday, the mainstream prices for tin ingot 99.95%min stand at USD25,700-25,800/t in Bolivia, up by about USD100/t from yesterday. Due to the reduction of tin ingot supply in the market, insiders predict that the prices of Bolivian tin ingot would go up tomorrow.
