China's tin imports hit the highest monthly level since April 2009, surging to 3,610 mt in September, up by 125 percent compared to the previous month and 167 percent compared to September last year, according to International Tin Research Institute.
China's growing demand has led to tin being run down in LME warehouses. Those levels are at 16,120 tonnes against a 52-week high of 23,425 tonnes. LME stocks have declined by more than 4,000 tonnes in recent weeks, and most of the tin withdrawn from the exchange warehouses in Singapore and Johor, Malaysia has probably flowed into China.
Meanwhile, a statement by the Ministry of Commerce announced on Monday showed that China will cut export quota for tin in 2012 from this year setteling the annual export limits for tin to 18,000 mt, down from this year's 18,900 mt.