Official production figures released by China’s National Bureau of Statistics today show a large rise in output in October, but year-to-date production still running more than 10% down on 2007 levels. ITRI believes that the figure reported for last month is inaccurate and/or includes revisions to previously reported production in the first nine months of the year.
According to Reuters, October refined tin production was 16,239 tonnes, up 24.3% on October 2007 and 60% higher than in September, while January-October production, at 109,391 tonnes, is down 10.7% compared to the same ten months of last year. We understand that Reuters has asked NBS to re-confirm the latest data for tin and some other metals. Most of China’s main tin smelters have recently announced large production cuts in response to lower prices and weaker demand.
