Tin market report April 2012

Tin market report April 2012 4
Introduction 4
1．Financial overview 4
1.1 CPI declines to 3.4% in April in China 4
1.2 PMI continues to rise with declining growth rate in April 5
1.3 Industrial enterprise profits amounted to RMB1044.Asian Metal Copyright3 Industrial enterprise profits amounted to RMB1044.Asian Metal Copyright9 billion in Q1, down by 1.3% YoY 6
2. International market review 7
2.1 Global manufacturing industry index for April 7
2.2 Global crude oil price fell with fluctuation 9
2.3 Us economy slowly recover with USD index slightly falling 9
2.4 Gold price slightly fluctuates in April 10
2.5 Tin futures on the LME keep fluctuating 11
3 Chinese domestic market review 13
3.1 Tin ingot price keeps dropping, and sentiment shows dim 13
3.2 tin concentrate price drops and suppliers reluctant to sell 13
4 Output data analysis 14
4.1 There still exists a gap between supply and demand 14
4.2 The tin output of PT Timah may increase by 18% 14
4.3 Chinese tin output in March increases by 15% MOM 14
4.4 Many smelters reduce production in April 15
4.5 Chinese tin concentrate output up 15
5 Analysis of import & export data 16
5.1 Chinese imports of tin ingot down by 29% MOM in March 16
5.2 Chinese imports of tin concentrate in March down by 9% MOM 19
6. Company news 20
6.1 China tin group reduces tin output by 20% MOM in April 20
6.2 Gejiu Kaimeng Gongmao to produce about 300t of tin ingot in March 21
6.3 Linwu Xianggui produced about 200t of tin ingot in March 21
7 The trend forecast next month 21

图表目录
Graph 1 Chinese PPI and CPI gragh 5
Graph 2 Chinese PMI index graph 6
Graph 3 USD index graph 10
Graph 4 Golden price trend 11
Graph 5 The price of 3-month tin on the LME 12
Graph 6 The price of 3-month tin stocks on the LME 12
Graph 7 Chinese tin prices 13
Graph 8 The price of tin concentrate price in China 14
Graph 9 The tin output in China 15
Graph 10 Chinese tin import 16
Graph 11 Chinese tin import from countries 16
Graph 12 Chinese tin concentrate imports 19
Graph 13 Chinese tin concentrate imports from countries 19

Table 1 Chinese tin import data 17
Table 2 Chinese tin concentrate imports data 20

.Asian Metal Copyright1 CPI declines to 3Asian Metal Copyright