September 08, 2008

Chinese tin imports in 2007 dip by 25%

According to an official with Beijing Antaike, the state run nonferrous metals information provider, China's total refined tin imports in 2007 reached 16,932 million tonnes down 25% from 2006.

The Antaike official said "The decline is mainly due to Indonesia having decreased its tin exports last year."

Antaike source said Chinese customs statistics show that China's exports had increased in 2007 despite the decline in imports. China exported 23,582 million tonnes tin in 2007 up by 9.5% from 2006. The rise is mainly attributed to relatively higher international tin prices during the first half of 2007."

It said that the Chinese government's imposition of a 10% export tariff on unwrought non alloy tin from January 1st 2008 would limit China's tin exports in 2008. The new 10% export tax imposed by the state would discourage Chinese tin smelters from exporting this year, so it's quite likely that the 33,300 million tonnes export quota for 2008 would not be fully utilized this year.