The World Bureau of Metal Statistics (WBMS) reports that the tin market recorded a calculated market deficit of 1 kt in the period January to June 2006 after allowing for reported DLA deliveries. No allowance is made in the consumption calculation for unreported stock changes.
Reported production of refined metal was up by 5.8 per cent to 186.5 kt, compared with the first six months of 2005 and DLA deliveries were 7.7 kt bringing the total availability to 194.2 kt. Demand totalled 195.2 kt with decreases in LME stocks making up the deficit. At the end of June LME stocks stood at 11.9 kt which compares with the end December 2005 figure of 16.7 kt.
Tin mine production was just over 169 kt which was 8 per cent above the total for the previous year. All of the increase was recorded in China. Refined output was 186.5 kt with higher production in China and Malaysia accounting for all of the additional production. Global demand rose by 28kt with increases recorded in China (30 per cent), Japan (33per cent) and USA (13 per cent). Stocks at the end of June (excluding DLA stocks) were 32.6 kt, 5.7 kt below the end 2005 level.
In June world refined production was 32.6 kt and demand was 33.4 kt.
