September 08, 2008

China remains net importer of tin in Q1

According to China’s official customs statistics, China maintained its position as a net importer of tin for the third consecutive month in March 2008. Exports came in at 58 tonnes, following February’s all time low of just 3 tonnes. This compares to the 4,538 tonnes in March 2007.

GFMS Metals Consulting believes exports should regain momentum in the coming months, despite strong domestic demand and the still 10% export tax. Imports have remained reasonably stable and above 1,000 tonnes in recent months.

Tin concentrate imports in March 2008 came in at 886 tonnes, bringing the first quarter total up to 2,193 tonnes up by 67% YoY. The main sources of concentrates so far this year have been Vietnam, Bolivia and Myanmar.