September 07, 2008

China remains net importer of tin in October 2007

Official Chinese customs figures released recently showed that China remained a net importer of unwrought tin last month. Exports of refined tin and alloy were only 733 tonnes 56.3% lower than in October 2006, while imports were 2,469 tonnes 59.1% higher than the same month last year.

The reversal of traditional trade flows in recent months reflects the fact that Chinese domestic market prices have been at a large premium to LME values since August 2007. This in turn has been due to a strong revival in demand for tin in combination with short supplies of tin concentrates since the middle of the year.

One big surprise in the October customs figures is that very large concentrate imports from Myanmar are reported 15,482 tonnes of concentrate was reportedly imported from China’s neighbor last month a massive increase from the 257 tonnes received in January to September 2007.