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Tin in the News
LME tin ended yesterday at an 18-month high of $18,940, with stocks held by the exchange falling 60 tonnes to 4,570 tonnes. Fund buying continues to be a major driver of current price movements.This week we report on news from each of the top three tin producing countries. For China, we detail further halts in production by four tin producing smelters. In Indonesia, it has been reported that the independent tin smelter, Refined Bangka Tin, is to restart production. Finally, in Myanmar, there is reason to be optimistic about the country's upcoming peace conference, with China encouraging involvement by the major, ethnic, non-state armed groups sharing its border.Tom Mulqueen - Analyst, Markets Follow us at twitter.com/ITRItin |
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Refined Bangka Tin to restart production
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24 August: The Indonesian private tin smelter, PT Refined Bangka Tin (RBT), has announced plans to resume production following a change of management, FastMarkets reported yesterday. In February this year it was announced that operations had ceased due to environmental concerns and that the company's smelting and refining facility on Bangka Island would be scrapped.Comments from FastMarkets sources suggest environmental concerns were only a part of the decision to halt operations and that internal disagreements between the company's owners were a major component, with one trader commenting; "Within RBT itself there was a group fighting to keep it open and another to close," The renewed tin operation will be managed by RBT owner, Robert Bono.It is reported that RBT has an export permit for 12,000 tonnes of refined tin this year but is unlikely to reach this figure, with output expected to be roughly equal to what the company achieved prior to closure. Since 2012, RBT had consistently been one of the top exporting private Indonesian smelters, with typical annual exports of 5,000 tonnes of refined tin and capacity of 2,000 tonnes per month. However, declining tin prices and new regulation implemented in August 2015 caused the company's production to decline to as little as 200 tonnes per month in the second half of the year.ITRI View: It is unclear what regulatory hurdles the company will face now that it plans to return to production. The company was also delisted as a registered LME brand in March this year and whether it will seek to re-register and how long this might take is also uncertain. However, RBT's depleted refined tin stocks, which were sold off earlier this year, and a reported current shortage of tin concentrate in Indonesia should limit the impact of the company's return to the market. Therefore we see no reason to adjust our current forecast for total Indonesian tin production in 2016 of just over 60,000 tonnes of refined metal.
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Four China smelters stay closed into September
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24 August: While most tin smelters in Yunnan, Guangxi and Jiangxi provinces have re-opened recently, four plants which account for 18% of national production will remain idle for up to 40 days.Two new plant closures are reported in provinces other than those affected by the government environmental inspections which began on 19 July. Maanshan Weitai Tin Co. Ltd. in Anhui Province is planning a maintenance shutdown beginning on 28 August. The closure will be for 20 days. Another smelter in Inner Mongolia Province also began maintenance recently and will take 40 days to reopen. The two small smelters produce 8,000 tonnes refined tin annually. The Maanshan Weitai closure is because it is within a 300 km radius of Hangzhou, which is hosting the G20 summit of world leaders on 4-5 September. As part of a co-ordinated air quality campaign all factories in the area will be closed or closely controlled.The other smelters in China have been gradually building up their production in the past few days. Only two smelters in Yunnan Province are still closed, but they will reopen in the late August and mid-September. The two smelters in Yunnan produce 16,000 tonnes of refined tin annually. The four idled smelters represent 18% of China's annual refined tin production.Chinese smelters' raw material requirements continue to be met by a steady flow of tin ore and concentrate from Myanmar. According to the official trade statistics for July released today, imports last month amounted to 36,219 tonnes gross weight (approximately 4,300 tonnes contained tin) bringing year-to-date imports up to 290,338 tonnes (just under 35,000 t contained tin). August-October imports are expected to be seasonally lower and Myanmar 2016 annual production is estimated by ITRI at 50,000 tonnes.
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China provide support for the Myanmar peace process
 25 August: China's Special Envoy on Asian Affairs, Sun Guoxiang, met with ethnic, non-state armed groups based along the Myanmar-China border this week, encouraging them to take part in the '21st Century Panglong' peace conference which is set to begin on 31st August in Naypyidaw, the Irrawaddy has reported.Meetings included an important discussion with the United Wa State Army (UWSA) in Panghsang in the Wa area of Shan State. During the recent visit of Myanmar's State Counsellor Aung San Suu Kyi to China, Chinese President Xi Jinping pledged to assist in the peace process and shortly afterwards, a Wa media group reported that three other delegates from the Chinese Foreign Ministry and six government delegates from Yunnan Province joined Mr Sun in this mission. Mr Sun addressed a summit of ethnic armed groups and announced that China had donated US$3 million via the UN in support of Myanmar's peace process. The meetings also involved discussions focussed on investment and major collaborative infrastructure projects to improve transport and trade links between China and the region.China has traditionally maintained distance from politics and conflict in Myanmar but has recently become more demonstrative in its support of the peace process. China's influence may be significant in helping to achieve regional stability. |
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Join us this November at ITRI's Asia Tin Week in Shanghai
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21 - 24 November 2016, ShanghaiSheraton Shanghai Hongqiao HotelAsia Tin Week is the 4th ITRI event held in China following 2011 in Hangzhou, 2013 in Kunming and 2015 in Shanghai. More than 300 delegates from China and other parts of the world are expected to attend. Click here to view the program and registerAsia Tin Week comprises two main formal sessions, both featuring simultaneous translation in English and Mandarin: The ITRI Asia Tin Summit, focussing on industry and market issues, and the China International Solder Technology Forum. Visits to the Shanghai Future Exchange or Yu Gardens are included as part of the event programme.
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11th International Tinplate Conference programme announced
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5 – 6 October 2016, Copthorne Tara Hotel London Kensington, London, UKAround 120 delegates are expected to attend the forthcoming conference, for which a detailed programme can be downloaded at the link below..Click here to see the programmeThe two-day conference will attract those interested in understanding the key commercial and technical tinplate developments and provide opportunities to network with the global industry.
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