Even though demand dropped in jan/feb, demand was greater than...

Even though demand dropped in jan/feb, demand was greater than supply. Only metal on the lme to be in deficit. When demand returns tin will fly as current prices have had a significant impact on supply.

WBMS: Tin demand in February at ten year low
Release date: 23 Apr 2009

In its latest release of base metals data, the World Bureau of Metals Statistics (WBMS) said that estimated global tin consumption for January and February 2009 was 39,500 tonnes, which was 30% below the comparable period of 2008. Estimated apparent tin consumption in February, at 18,600 tonnes, was the lowest monthly figure since March 1999, WBMS managing director Sue Eales told ITRI.

US apparent tin consumption fell by 22% year-on-year while Japanese consumption dropped by 51%. European consumption fell by 20% and Chinese demand was down by 35%, WBMS estimated. However the decline in Chinese production was even greater and was believed to have fallen short of local consumption by some 1,300 tonnes. WBMS calculations of Chinese consumption take into account under-reporting of refined metal exports.

WBMS said that it calculated that all the LME metals markets were in surplus in January-February. Apart from tin, the biggest declines in consumption were recorded in nickel (-23%) and aluminium (-16%).