Tin concentrate price remains firm

As the supply of tin concentrate is still unable to meet the strong demand from smelters in Chinese market, tin concentrate prices remain firm.

A source from a Guangxi-based tin mine said that they just sold 20t of tin concentrate 60%min at the high price of RMB130,000/t (USD17,310/t) with VAT included early this week. "It is the highest price we ever sold," said the source, adding that the prices of tin concentrate grading 60%min and 40%min are at about RMB119,000/t (USD15,846/t) and RMB115,000-116,000/t (USD15,313-15,446/t) with VAT excluded respectively.

The source commented that the supply of high grade tin concentrate is tight in domestic market, so many smelters mixed the high grade material with low grade one.

The mine halted production early this month, either do other mines in the local market. Therefore, the supply of the material will become tighter in the coming weeks. As for the prospect of tin market, the source said that smelters have to put tin ingot price at above RMB147,000/t (USD19,573/t), if they purchase tin concentrate at the above prices.

A Guangdong-based tin concentrate supplier offered tin concentrate 50%min at RMB125,000/t (USD16,644/t) with VAT included, the same level compared with that last week.

The source reported that they are holding about 20t of tin concentrate, but not in a hurry to sell the material in the short term. "On the back of tight supply, the price of the material may continue to rise in the coming weeks," said the source.