|
Tin in the News (30 June 2010) |
Source: ITRI Ltd
Dip in Peru production (30 Jun 2010)
Peru’s May mine production of tin-in-concentrates was 2,909 tonnes, down 5% compared to May 2009. Based on ITRI’s calculation, total mine production for the first five months of the 2010 was 15,279 tonnes, almost exactly the same as the same period in 2009.
Jump in premiums in Korea tender (30 Jun 2010)
South Korea’s Public Procurement Service paid a greatly increased premium of US$930/tonne cif Incheon over the LME price for 200 tonnes of 99.9% high grade tin this week. Its last purchase of high grade tin, booked in March for delivery by May 31, was at a premium of US$530/tonne, while last week it booked 200 tonnes of standard 99.85% tin for mid-September delivery at a premium of US$320/tonne. The agency plans to buy 1,910 tonnes of tin in 2010.
New Iranian tinplate plant starts up (30 Jun 2010)
Metal Bulletin reported that Farrokh Shahr Steel Industries has started
production at a new 150,000 tpy capacity tinplate facility located on a
50 hectare site close to Farrokh Shahr city in the Iranian province of
Chahar Mahal-e-Bakhtiyari. About US$48 million has been invested in
the project which began commercial production a few months ago. Some
250 workers will be employed at the plant when it operates to full
capacity. The company plans to produce 120,000 tonnes in its first
year of operation, mainly for the local market.
Heemskirk project revived (28 Jun 2010)
Stellar Resources is re-starting feasibility study on the Heemskirk tin
project in Tasmania. A drilling programme will focus on the shallow
Queen Hill tin deposit, infilling historical drilling where the
drilling density is lowest, in a zone between the surface and a depth
of 120m. The results are expected to upgrade the historical data base
and improve the basis for a modern JORC-compliant mineral resource
estimate of the Queen Hill deposit.
Queen Hill and associated deposits have a total (non-JORC) resource of
some 50,000 tonnes contained tin and Stellar is contemplating a 500,000
tpy ore capacity underground mine capable of producing 3,500 – 4,500
tpy of tin-in-concentrate.
China exporters hit by policy changes (25 Jun 2010)
China will scrap its 5% export tax rebates on some copper, lead, nickel
and tin semi-fabricated products starting 15 July. The rebates were
introduced last year to help exporters struggling with a downturn in
demand. The move to scrap the export tax is intended to avert any
trade friction and is in line with the Chinese central government’s
attempts to streamline some key energy-intensive industries as well as
to reorientate the economy away from a reliance on exports. The move
however, has little effect on exports of tin products which amounted to
only 5,284 tonnes in 2009 in a 130,000 tpy market.
The yuan is expected to appreciate over time with the recent move to
allow the yuan to move more freely relative to the US dollar. This
could boost China’s imports of tin metal but will have an adverse
impact on export competitiveness. With rising labour cost and
inflation in some parts of China, electronic enterprises may move their
factories to cheaper regions in China or to lower cost countries
elsewhere in Asia.
Help this site to stay free & run by buying me a cup of coffee!mfBeer Joomla! Plugin
|
News Summaries(International) 
to get Mozilla Firefox