Tin market report July 2012

Contents

Tin market report July 2012 4
Introduction 4
Financial overview 4
1.1 Domestic finance and economy 4
1.1.1 CPI reached the bottom line for the past 24 months in June 4
1.1.2 PMI in July in China 5
1.1.3 Nonferrous metal prices rebounded due to stimulating policy expectation 6
1.2 International finance and economy 6
1.2.1 Crude oil prices increased with fluctuations in the international market in June 6
1.2.2 USD index increased slightly 7
1.2.3 Tin futures on the LME extend to fall in July 8
2 Chinese domestic market review 9
2.1 Tin price keeps dropping, and trading thin 9
2.2 thin trading in tin concentrate market 10
3 Output data analysis 11
3.1 The global tin market excess supply of 2,100 tons in the first 5 months of 2012 11
3.2 Chinese tin production in June up by about 5.8% MOM 11
3.3 Many smelters continued to reduce production in June 11
3.4 Chinese tin concentrate production only up by 0.52% in June 12
4 Analysis of import & export data 13
4.1 Chinese imports of refined tin and tin alloy up by 50% MOM in June 13
4.2 Chinese tin concentrate imports in June down by 46% MOM 17
5. Company news 19
5.1 tin production of PT Timah fell by 19% in the first half of this year 19
5.2 30,000 tons of refined tin project of Jiangxi Kaiyuan mining put on record 19
6 The trend forecast next month 20



Chart Contents
Chart 1 Chinese CPI and PPI from 2011 to 2012 5
Chart 2 Chinese PMI during 2011-2012 6
Chart 3 Crude oil futures prices in US 7
Chart 4 USD index 7
Chart 5 The price of 3-month tin on the LME 8
Chart 6 The price of 3-month tin stocks on the LME 9
Chart 7 Chinese tin prices 10
Chart 8 The price of tin concentrate price in China 10
Chart 9 The tin output in China 12
Chart 10 Chinese refined tin and tin alloy import from January 2011 to June 2012 13
Chart 11 Chinese imported tin volume from major countries in the first half of 2012 14
Chart 12 Chinese tin concentrate import from January 2011 to June 2012 17
Chart 13 Chinese tin concentrate import volume from major countries in the first six
months of 2012 17

Table 1 Chinese tin import data 14
Table 2 Chinese tin concentrate imports data 18