Following major criticism over the increase of its tin-plate prices, which were adjusted yearly by 69% to 78%, ArcelorMittal South Africa (ACLJ.J) has toned down prices. The decision was welcomed by the packaging industry. But tin prices have yet to respond significantly to the fresh supply problems in Indonesia, which may be partly due to the strong recovery in Chinese production.
YTC Resources Ltd. declared that it has been granted a new exploration licence EL 7280 in NSW, the tenement areas of which contain the Pound Flat tin deposit. 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.
Indonesia’s PT Asia Natural Resources announced its plans to export 400 tpm of refined tin to Singapore from July. For full story, click here
Get our independent commentary on tin trends and companies delivered to your inbox.
