According to statistics from China Customs, showed that import of Refined Tin + Tin Alloy decreased 12.13% YoY. The tin ore import from Myanmar is decreased 60.41% YoY and China's total Import of Tin Ore on Mar 2018 decreased 60.59% YoY.
Australian miner Metals X’s Q1 activities report has revealed an increase in tin ore grade to 1.27%. 207,639 tonnes of ore were mined in Q1, up 11% both year-on-year and compared to the previous quarter, despite the volume of ore processed remaining broadly stable at 185,196 tonnes.
Japan’s All Industry Activity Index on Feb was stagnant at 0.4% MoM, Japan’s Industrial Production on Mar was down to 1.2% from its previous 2.0% MoM, Japan’s Construction Orders on Mar was down to -4.0% from its previous 19.2% YoY. Europe’s Markit Manufacturing PMI (Preliminary) on Apr was down to 56.0 from its previous 56.6, Europe’s Economic Sentiment Indicator on Apr was stagnant at 112.7, Europe’s Business Climate on Apr was down to 1.35 from its previous 1.44.
Export Permit Issue has been Solved
Ministry of Trade has issued the new regulation on Apr 16 to solve the current issue of Export Permit.
Through the Ministry of Trade Regulation No. 53 Year 2018, which effective on Apr 17, stated that the replacement document of recommendation from Ministry of Energy and Mineral Resources is scan of document Landrent and Royalty. The system to apply for a new license of Registered Exporter (ET) and Export Permit (PE) is changing from written to online basis.
Declining Grade of Myanmar's Tin Ore
China’s tin ore imports are reliant on resources from Myanmar, which takes up some 99.2% of total imports. However, the grade of Myanmar tin ore fell from above 5% in 2012-2015 to a low of 1.5-2% last year. As the ore with a grade of over 4% on the surface was exhausted, mining has had to go deeper underground, leading to higher costs.
In addition, the country’s reserve could be depleted in the next two to three years, a senior official was quoted as saying in media reports.