China tin producers announce co-ordinated production cuts [IMG]...

China tin producers announce co-ordinated production cuts


20 January: China’s nine major tin producers, including the world’s largest supplier Yunnan Tin Company, announced today that they would reduce their combined production by some 17,000 tonnes or 12% year-on-year in 2016 in response to adverse market conditions. The industry in China has been negatively impacted by continuously declining prices through 2015, as evidenced by reported financial losses and the significant production cuts already made in the last six months.

The output of the nine participating producers (YTC, China Tin, Chengfeng, Zili, Kaimeng, Yunxin, Jinye, Nanshan and Weitai) amounted to around 140,000 tons in 2015. This is equivalent to more than 80% of China’s domestic production of refined tin and some 40% of the world total.