China Firms Seeking Tin Mines Around the Globe
Reuters reported China is seeking mines in South America, Asia and Africa for tin and other metals.
Reuters reported China is seeking mines in South America, Asia and Africa for tin and other metals.
Reuters reported Yunnan Tin Co Ltd (SHE:000960,HKG:0263) said it expects costs to rise about $7.9 million after China raised its tin ore taxes.
Bloomberg reported China increased resource taxes on tin and five other minerals on Friday.
Bloomberg reported base metals, including tin, moved up on an increase in China imports and Europe.
While the price of tin has made a modest gain since the start of the year, global economic cues may limit the gains in the short term. Indonesia has lifted the export ban increasing supply, while demand is still weak.
Reuters Africa reported base metals slipped, including tin, on Monday on slowing demand in China.
Bloomberg reported base metals fell, after Chinese Premier Wen Jiabao said the government will maintain property curbs and the dollar jumped.
Reuters reported China set a tin export quota for 2012 at 18,000 tonnes.
As the old adage goes, “The only cure for high prices, is high prices.” The fundamentals of the tin market are showing this statement to be true. The high price in April prompted a sell-off of stocks in China. Now that the price is depressed Indonesia has ban exports hoping for a higher price.
Reuters Africa reported tin premiums in Europe rose this week as inventories declined in London Metal Exchange (LME) warehouses.
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