25 Indonesian tin producers have extended the ban on tin exports until year-end.
Articles Tagged "demand"
Supply of tin for 2011 may have a 15,000 tonne deficit, driving prices higher still. China recently capped production of tin and other base metals; and Indonesia, the largest exporter of tin, has capped production at 100,000 tonnes and cracked down on illegal mining.
Reduced tin production from Indonesia has had a big effect on prices for the base metal. Fearing that the high prices will encourage a wave of new production, Indonesia has stated that it will limit production to 100,000 tonnes, which could cause a larger supply deficit in 2011, boosting prices even higher.
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. For full story, click here
Novosibirsk Integrated Tin Works, Russia’s sole producer of the metal, declared that first quarter sales volumes dipped by 72 percent from the year-earlier period as demand slumped. For full story, click here
Despite being perceived as a sunset industry for the past 10 years, the local kuala lumpur tin industry is still surviving mainly due to increased solder demand from the electrical and electronic industries. For full story, click here
Tin prices gained a whopping 18 per cent on the LME in the month of April, despite a huge gain in LME inventories by almost 15 per cent. Global production, however, is expected to fall 6.5 per cent by 21,000 tonnes, to 304,500 tonnes in 2009. According to the International Tin Research Institute demand for tin is expected to fall by 10.5 per cent in 2009 amid the global economic crisis. Hence, the market could be in surplus by 5,000 to 10,000 tonnes in 2009.
The Kuala Lumpur Tin Market has closed at near six-month high yesterday, buoyed by strong demand from European purchasers and sharp gains on the London Metal Exchange overnight. For full story, click here
As per reports given by Energy Ministry, Indonesia’s tin output may not touch 90,000 tonnes this year amid slowing global demand. For full story, click here
Tin was at $10,460 from $10,475 a tonne on LME. The deepening recession has slashed the demand for the metal. For full story, click here