China’s production of all LME metals fell year-on-year in July, reports Bloomberg, reflecting low seasonal demand and power restrictions. Year on year declines ranged from 0.3% for copper to 34% for tin. Some Chinese aluminum, lead and zinc producers agreed in July to cut output to help ease a power shortage ahead of this month’s Beijing Olympics.
July refined tin production was provisionally reported by the National Bureau of Statistics at 8,400 tonnes, the lowest monthly figure this year. Production in January-July was 73,300 tonnes, down 13% year-on-year. The July fall in tin production was strongly affected by the maintenance shutdown of YTC’s Gejiu smelter, the largest in the country. In addition production by small mines has reportedly been hit by strict controls on sales of explosives which were introduced as a pre-Olympics security measure.
