COMMODITIES China may cut tin exports by 10% in ‘07
Posted online: Tuesday, February 13, 2007 at 0000 hours IST
'); //--> FEB 12: China,
the world’s biggest producer of tin, may cut exports of the refined metal by
10% this year, further depleting global stockpiles that are already at their
lowest since November 2005. China’s exports of tin, used to solder electronic
components, dropped 12% in 2006 to 19,000 metric tonne on rising domestic
demand and higher export taxes, Cui Lin, tin analyst at Beijing Antaike
Information Co, said in an interview on Monday. Tin prices have climbed to
record highs in the past year on concern about reduced supply from Indonesia,
the world’s second- biggest producer. Consumption in China, the world’s
fastest- growing major economy, is also rising as the country uses more of the
metal for soldering micro chips. -->
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“The rapid growth of the domestic market in China has reduced the amount of tin
exports,’’ Peter Kettle, head of research at ITRI Ltd, a producer-funded tin
organization in St Albans, England, said by phone February 8. Global tin
consumption expanded 9% in 2006, according to ITRI data. Demand rose to
3,60,000 tonne from 3,30,300 tonne in 2005, helped by electronics manufacturers
increasing the tin component of solder to substitute for lead, a poisonous
metal. Tin for delivery in three months on the London Metal Exchange rose 0.2%
to $12,350 a tonne, just $150 below the $12,500 record on January 24, which was
the highest in at least 18 years. —Bloomberg
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