LONDON (Scrap Register): The tin market recorded a deficit of 5.6k tonnes during January to August 2019 and there were no DLA deliveries during the period, the World Bureau of Metal Statistics (WBMS) said in its latest report.
Chinese demand is calculated on an apparent basis using reported stocks on the Shanghai exchange. It is likely that other stocks at producers and consumers may have increased which would imply that the demand figure may be overstated. WBMS has no information on any other stock changes. Total reported stocks were 7.1k tonnes higher than at the end of 2018 but this includes an unexplained increase in Indonesian stocks of 6.0k tonnes, WBMS said in the report.
Global reported production of refined metal was up by 6k tonnes, compared with the January to August 2018 total. Production in Asia was 5.9k tonnes higher than the January to August 2018 total. Apparent demand in China was 11% higher than the equivalent period of the previous year.
Global tin demand during January to August 2019 was 254.4k tonnes which was 1.8% above the comparable period of 2018. Japanese consumption was 18.4k tonnes which was 3.1% below the comparable total for January to August 2018.
In August 2019, refined production was 32.0k tonnes and consumption was 31.8k tonnes.
