China's tin solder output from 45 sample enterprises (including large, medium, and small companies) reached 7,379 tonnes in March, up by 98.63% month on month but down by 0.66% year on year, according to Mysteel's survey. The operating rate of sample enterprises stood at 71.83%, an increase of 33.80 percentage points compared with February.
In March, most surveyed tin solder enterprises maintained normal production amid the peak consumption season. Coupled with a gradual decline in tin prices, downstream restocking sentiment remained favorable. Overall, market consumption rose significantly from February while stayed roughly flat compared with January. Large and medium-sized enterprises reported notable order growth, with both production and raw material inventory buildup accelerating from February. Tin solder orders from the photovoltaic (PV) sector held steady growth in March, largely driven by front-loading of shipments ahead of the April expiration of China's export tax rebates on PV products. Order intake in consumer electronics remained strong, supported by robust demand in high-end segments such as Artificial Intelligence (AI), and healthy production schedules for home appliances. Overall, tin solder output and tin ingot demand among surveyed enterprises both improved in March relative to February.
Looking ahead, Mysteel's survey projects total tin solder production from the sample enterprises at approximately 6,500-7,000 tonnes in April 2026, down by 11.91% month on month. The estimated overall operating rate for April stands at 69.91%, a decline of 1.93 percentage points from March. Geopolitical tensions between the U.S. and Iran have dampened exports to Middle Eastern markets, weighing on demand. Meanwhile, improving macroeconomic sentiment has driven a notable rebound in tin prices in early April, prompting order pullbacks among most end-users and downstream firms. Fueled by AI, humanoid robots, and smart manufacturing, current production plans in the electronics sector may boost tin solder consumption over time, but broader industry development is still required. Meanwhile, China's appliance production schedules are expected to contract by around 5% month on month. New energy vehicle output and sales declined through January-March, which could soften subsequent replenishment demand. Additionally, the removal of PV export tax rebates in April is likely to result in a significant month on month drop in PV products' production plans. In summary, both output and operating rates among tin solder enterprises are expected to retreat in April.
ritten by Zhaorui Cui, cuizhaorui@mysteel.com
Edited by Mingyuan Wang, wangmingyuan@mysteel.com
