Tin Plunges On PT Timah Restart

Reuters reported tin prices plunged as PT Timah announced it will restart selling spot prices.

As quoted in the market news:

The announcement that PT Timah – the largest tin miner in the world’s biggest refined tin exporting country – had restarted spot sales knocked three month tin prices, which fell to as low as $19,450 a tonne, a slide of 6.9 percent, and closed 6.1 percent weaker at $19,620.

Prices had shot up 13 percent last week on news that more than 90 percent of Indonesian tin miners had stopped production.

Click here to read the full Reuters report.