On May 25th the London Metal Exchange (LME) announced the approval of the YUNXIANG tin brand as a listed LME brand, making it deliverable against the LME Tin contract.
The YUNXIANG brand is produced by Gejiu Kaimeng Industry and Trade Co., Ltd., a Chinese tin smelter located in the city of Gejiu in Yunnan Province. The company has an approximated annual tin refining capacity of 8,000 tonnes per year. The company recycles tin from slags and scrap to produce refined tin at 99.95% Sn as well as tin-lead solder as its main products.
Our View: Gejiu Kaimeng is a significant supplier to the Chinese market and its tin brand was the first to be registered as a delivery brand against the Shanghai Futures Exchange (SHFE) tin futures contract. The approval of its YUNXIANG brand by the LME marks the end of a 10-month registration process and brings the total number of LME listed brands to 7 in China and to 23 globally.