Tin Loses 1.8% on Slower Export
Reuters reported on base metals trading on Tuesday noting tin fell on news of slowed export from Indonesia.
Reuters reported on base metals trading on Tuesday noting tin fell on news of slowed export from Indonesia.
Reuters Africa reported South Korea has bought 300 tonnes of tin ingot via tender from Hanwha Corp. (SEO:000880), while reissuing tender for 100 tonnes.
Commodities may be teetering on second U of the W-shaped recovery. Tin continues to face a challenge, with a possible erosion in demand. The main culprit: the current global recession. Last week, ITRI Ltd, an international tin grouping, came up with a disturbing report stating that demand would likely drop 10-15 per cent this year, on the back of excess supply.
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