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World Bureau of Metal Statistics announced that the tin market recorded a deficit of 18.7 kt during January to October 2020 and there were no DLA deliveries during the period. Chinese demand is calculated on an apparent basis using reported stocks on the Shanghai exchange. Total reported stocks were 8.2 kt lower than at the end of 2019. Demand is measured on an apparent basis and it is likely that the full effects of national lockdowns have not been fully reflected in the trade statistics.
Global reported production of refined metal was down by 11.7 kt, compared with the January to October 2019 total. Apparent demand in China was 16.5 per cent higher than the equivalent period of the previous year.
Global tin demand during January to October 2020 was 317.1 kt which was 2.1 per cent higher than the comparable period of 2019. Japanese demand was 16.9 kt which was 21 per cent below the comparable total for January to October 2019.
In October 2020, refined production was 31.9 kt and consumption was 32.4 kt
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