PT Timah (Persero) Tbk, Indonesia’s largest tin producer, is planning to increase its offshore mining deposits. The company’s Offshore mining may account for 60% to 70% this year. It is also forced to reduce sourcing tin ore from its onshore mines in Bangka-Belitung islands, Indonesia’s main source of tin. President Director Wachid Usman is quoted [...]
Kuala Lumpur Tin Market (KLTM) will be on a stable condition since Malaysian and European buyers of tin will be active to trade above US$17,300 per tonne. One of the dealers is quoted saying: “The market was traded mostly lower this week, so we expect to see more buying support next week as prices are [...]
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 global tin market is expected to be in surplus by between 5,000 and 10,000 metric tons in 2009 as a result of the sharp dip in world consumption caused by the global economic slump since the fourth quarter of 2008. For full story, click here
PT Timah declared that it may produce less tin than forecast this year if prices stay low. Mr Abrun Abubakar corporate secretary of PT Timah stated: We may produce within a range of 45,000 to 49,000 tonnes in 2009, reiterating an earlier forecast. Still, if prices remain low, we may cut production further. For full [...]
With the tin price dipping nearly $US1600 a tonne since May last year, there aren’t many miners out there starting new operations – but a North Queensland company is bucking the trend. For full story, click here
Indonesia’s ability to stop supply as and when prices weaken should see tin remain above $10,000/t, 30%-40% above historical levels. For more information, click here
The outlook for base metal prices may improve in the final quarter of this year because governments’ stimulus measures will have had some time to take effect. for full story, click here
Many mining companies across all base metals have cut production at loss-making operations and delayed future projects as demand and prices have slumped.Tin was $30 higher at $11,230. For full story, click here
Anticipating low tin prices next year, Timah will sell tin products to end-users instead of traders. For full sory, click here
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