Indonesia’s PT Timah Tbk, the world’s leading integrated tin miner, declared that it may boost spot sales if tin prices climb to $18,000-$20,000 per tonne after a slip in sales earlier in 2009.
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From one crisis to another in past decades, tin is now being challenged again with a possible erosion in demand, which is suppressed by the current international slump.
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Tin exports from eastern Democratic Republic of Congo are back up despite the threat of United Nations sanctions and pressure from rights campaigners linking the trade to local conflicts.
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Commodities may be teetering on second U of the W-shaped recovery. Tin continues to face a challenge, with a possible erosion in demand. The main culprit: the current global recession. Last week, ITRI Ltd, an international tin grouping, came up with a disturbing report stating that demand would likely drop 10-15 per cent this year, on the back of excess supply.
Foshan tin making Corporation has invested and constructed domestically by Baosteel was put into formal output a few days ago.
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Stonehenge Metals Limited has advised that the divestment of the Heemskirk Tin Project declared that it will enable the Company to continue to focus its efforts on its other Tasmanian exploration activities on the promising base metal targets on the Stonehenge and Sunshine tenements and on tin and tungsten mineralisation at the Federation and Interview [...]
Despite being perceived as a sunset industry for the past 10 years, the local tin industry is still surviving mainly due to increased solder demand from the electrical and electronic industries.
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Commodities like tin, rubber and steel could be heading for a short-term rally in the near future bolstered by active buying interest from institutional and fund managers on most major world commodities, dealers said. Manufacturers worldwide were seen building up inventories to take advantage of the current weak US dollar, traders said. The weak greenback makes commodities attractive as a hedge against inflation.
Indonesian tin consortium Bangka Belitung Timah Sejahtera expects June-September output to slip further to below 50% of its 3,000-4,000 tpm capacity despite increasing tin prices.
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India Tin Industries is on an aggressive drive to raise its customer base with the printed super wima welded cans.
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Wednesday, June 17, 2009