Tin ($33,000/t) continue to climb whilst China’s top producer sees concentrate supply rebounding
Tin prices have held their ground, despite the restart of the Bisie mine in North Kivu, DRC.
However, the Man Maw mine in the Wa State, Myanmar, has yet to resume major operations, despite getting the greenlight from officials.
Chinese smelters have reported a shortage in concentrate as a result, with GM at Yunnan Tin stating that it has weakened treatment fees and weighed on their downstream operations.
However, the Company expects output from the DRC and Myanmar to return to normal levels by the end of the year. (Bloomberg)
Despite this, the Company sees tin prices climbing to $42k/t in China by year-end, from current levels at $37k/t.
MLX Price at posting:
53.0¢ Sentiment: Buy Disclosure: Held
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