China tin imports boomed in April 2015, particularly imports of tin concentrates. China tin concentrate imports had declined over 4 months since last December. But the trend was reversed from mid-April, when concentrate imports grew 193% year-on-year and hit historical highs of 33,595 tonnes (gross weight).

Total tin concentrate imports into China between January and April 2015 rose by 84% year-on-year to 91,336 tonnes (gross weight). Total refined tin imports for the same period rose by 9% y-o-y to 2,429 tonnes. China exports were reduced largely this year. According to China Customs statistics, exports from January to April totalled only 24 tonnes.

Myanmar is still the largest tin exporter to China; exports increased to 33,095 tonnes (gross weight) in April. The increase was believed to be due to the release of stock as a result of higher prices rather than an increase in production. However, Myanmar’s production and exports are expected to reduce sharply during the rainy season, which occurs from May to October. The local exporters view is that they would like to sell more concentrate before this period begins.

Refined tin imports in April also reached 12-month highs of 1,070 tonnes, up by 164% from the previous month. The China domestic price, excluding VAT and duty, has been lower than the LME price since 2013, but the situation was reversed from mid-April. The arbitrage space expanded in May and it is expected that high China imports were maintained during the month.