SMM

According to the latest in-depth survey by SMM, as of September 27, the operating rate of refined tin smelters in Yunnan and Jiangxi provinces remained low at 37.25%. Specifically, the operating rate of smelters in Yunnan remained stable this week. Further SMM surveys revealed that some smelters undergoing maintenance are nearing the end of their maintenance plans. Meanwhile, most smelters still report tight raw material supply and increased procurement difficulties. It is expected that the operating rate of smelters in Yunnan will significantly increase as maintenance concludes. In Jiangxi, the operating rate of smelters was basically flat compared to last week. Most smelters in Jiangxi maintained normal production, with no recent equipment maintenance plans. Additionally, SMM surveys found that the production of some beneficiation plants has decreased, and they have recently started using previous tailings for production. If Myanmar continues not to resume production, some beneficiation plants will face a situation of having no ore to process.