Sharp rise in Chinese tin exports Release date: 23 Apr 2007
Chinese exports of refined tin jumped to over 4,500 tonnes in
March, according to official customs figures released today. This was the
highest monthly total since June 2004.
As with the previous peak, the high level of shipments last month is believed
to reflect the attractive differential between LME and domestic prices. In
announcing its first quarter results last week, Chinas largest tin producer
Yunnan Tin reported that export prices in the period rose 60% while domestic
prices increased by only 23%.
Exports in the first quarter of the year rose by 66% to some 8,110 tonnes,
while imports fell by 70% in the quarter to 1,870 tonnes. The fall in imports
mainly reflects reduced tolling business for re-refining Indonesian tin.
Arbitrage selling may result in large exports again in April, but growing
domestic consumption is likely to cut volumes subsequently
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