Even as stockpiling in China is set to raise the bar for the price of tin, miners in Peru may go on strike on March 15, which could bring on some pressure. Queensland Small Miners too have blamed the government for not adequately supporting small miners.
The KLTM price fell by US$900 to US$10,000 per tonne from RM10,900., while LME tin dropped by US$855 to US$9,855. For full story, click here
Tin price decreased by USD 205 per tonne and zinc price saw a dip of USD 31 per tonne. For full story, click here
Comments by China’s President Hu Jintao that efforts by the world’s largest consumer of a host of commodities to counter the global economic downturn were working, were not enough to generate a little seasonal cheer. Tin fell to $10,705 from $11,050. For full story, click here
In late afternoon trading at the London Metal Exchange, tin prices were 2.0 per cent lower at $12,200 a tonne. For full story, click here
China said it would spend about $3bn buying 1m tonnes of base metals, including tin, in an effort to cushion its mining and smelting industry from plummeting demand and prices. For full story, click here
Tin, which fell 7.6 percent in the previous session, closed at $11,500 tonne from $11,905 on Thursday. For full story, click here
Indonesia’s tin export in October 2008 slid by 59.64% to 4,439 tonnes from that of the previous month, due to a fall of global commodity prices following the weakening demand. For full story, click here
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