Latest Update in the China Tin Scrap Market

DCE iron ore was was shocked and continued upward all the day.The main contract closed at 809,increased of 6.31%. Traders are generally motivated to ship, steel mills are mainly on the sidelines, and there are few transactions in the market.

Shanghai nonferrous metals closed all with gains as the macro sentiment has been boosted by a series of bullish news. The National Development and Reform Commission (NDRC) said that the country is capable of dealing with changes beyond expectations in the face of the 5.5% GDP growth target.

Since June, there were many incidents in domestic and foreign lithium mining. Ion terms of domestic, Qinghai, Sichuan and other places lithium mines have rich lithium resources. Zhai Gang, director of the Sichuan Provincial Department of Economy and Information Technology, mentioned that Sichuan has rich reserves of lithium ore resources, accounting for 57% of the national total resources, and currently has mining rights of 158 million mt ore reserves. 

Today, the quotations of major brands such as Tiefeng stood at premiums of 140 yuan/mt.

Domestic graphitisation capacity stood at 860,000 mt as of the end of 2021, and has reached 1 million mt by now following the release of new capacities. The total graphitisation capacity is expected to reach 1.3 million mt with the commissioning of anode-graphitisation integration projects in the next six months.

Affected by the Russia-Ukraine conflicts, SHFE tin hit a record high of 395,000 yuan/mt on March 8, and then gradually fell.

With the holding of some meetings at national level in China, the macro environment turns more optimistic, pulling up non-ferrous metals prices and relative stocks. As of 14:47 Beijing time, Nanshan Aluminum (600219), Yatai Sci-Tech (002540), Mingtai Al. (601677) and Hongchuang Aluminium (002379) hit limit up.

According to customs data, China's polysiloxane exports in May 2022 were 47,300 mt, up 16% month on month and 55% year on year.