China to increase silver, tungsten and antimony export
China next year will increase export tonnages for silver, tungsten and antimony, but cut the quota for tin from 21,000 tonnes in 2010 to 18,900 tonnes in 2011.
In recent years, tin quotas have been steadily reduced, but have exceeded actual exports, say published reports. Rising domestic demand has put a strain on export sales, as has the 10% refined metal export duty in the past three years.
In the first nine months of this year, refined tin exports were 108 tonnes, but tin semis and other tin products accounted for 5,364 tonnes, based on customs data.
However, Chinese domestic tin prices have been much lower than LME prices recently, with certain small producers lacking access to quotas.
China is the world's leading producer of tin, with a reserve base about 40% larger than no. 2 Brazil.
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