Global Tin market records marginal deficit during Jan-Feb ‘16

BRUSSELS (Scrap Monster): According to the latest published metals balances report by the World Bureau of Metal Statistics (WBMS), the worldwide Tin market has recorded a marginal deficit during January to February this year. There were no DLA deliveries during the two-month period, the data said.

As per WBMS data, the global Tin market recorded slight deficit of 2.10 kt during the initial two months of the year from January to February in 2016.

Global refined Tin production recorded slight increase of 4.10 kt during the two-month period. The above production figure is without taking into account re-processed LME metal. The Asian production totaled 52.9 kt during Jan-Feb ’16, modestly higher when matched with the production of 47.8 kt during the corresponding period last year.

The global demand for the metal has increased by 2.9% when matched with January to February in 2015. The demand totaled 63.7 kt during this period. The Chinese apparent demand saw significant uptick of 14% over the previous year. The Japanese consumption totaled 4.3 kt, marginally lower by 1.0 kt when compared with the demand of 5.3 kt recorded during January to February in 2015.

The reported stock of the metal declined marginally during the month of February this year. The stock at the end of the initial two-month period in 2016 was lower by 2.6 kt when compared with Dec ’15 closing levels. The reported stocks declined slightly during the month of February alone.

During the month of February alone, the global refined Tin production totaled 30.9 kt, as against the demand of 31.10 kt.