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.
Tongkah Harbour has called on the government to speed up the granting of mining licences for its tin mine. The tin mine project has got approval of its Environmental Impact Assessment and a public hearing is currently being held with local communities. For full story, click here
Indonesia’s trade ministry has confirmed that it had issued export licenses to 3 more private smelters, bringing the total number of companies able to legally export tin up to 22. For full story, click here
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