China’s Ministry of Commerce announced annual export quotas for a range of strategic metals on its website today, increasing tonnages for silver, tungsten and antimony but cutting the quota for tin from 21,000 tonnes in 2010 to 18,900 tonnes next year. The total covers both refined metal and tin semis.
Tin quotas have been gradually reduced in recent years, but have still been well in excess of actual exports. The main constraints on export sales have been rising domestic demand and the 10% export duty on refined metal which came into force at the start of 2007. In the first nine months of 2010 refined tin exports amounted to only 108 tonnes, although tin semis and other tin products were 5,364 tonnes according to customs data. Most recently, however, when Chinese domestic tin prices have been much lower than those on the LME, lack of access to quotas has prevented exports by some small producers.
