18 Sep 2008 08:53 GMT WBMS: World Tin Market In 5,400 Ton Deficit Jan-Jul 08 (Dow Jones)
DJ WBMS: World Tin Market In 5,400 Ton Deficit Jan-Jul 08
LONDON (Dow Jones)--The world tin market was in a 5,400 metric ton deficit in the January to July period after accounting for deliveries from the U.S. Defense Logistics Agency, the World Bureau of Metal Statistics said Thursday.
World refined tin production during the first seven months dropped by 1,300 tons on the year to 200,300 tons. Output in China, one of the world's largest producers, fell 11.5% to 76,300 tons.
World refined tin demand was fractionally higher on year at 205,700 tons.
The WBMS estimates Chinese demand during the period grew 6.8% on the year to 75,100 tons.
U.S. demand was "exceptionally low" in June and July, and was down 36% on year for the January to July period, the WBMS said.
Japanese consumption rose 4.8% compared to the same period a year ago.
Total tin inventories held at DLA warehouses stand at 4,000 tons, while total commercial stocks have dropped 5.6% since the start of the year, largely due to declines at London Metal Exchange warehouses in Singapore and Malaysia.
-By Matthew Walls, Dow Jones Newswires; +44 (0)20 7842 9412; [email protected]
MLX Price at posting:
26.0¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)