Tin

Tin Exports From Indonesia Seen Dropping to 2-Year Low as Rains Hurt Mines

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By Yoga Rusmana and Eko Listiyorini

Refined-tin shipments from Indonesia, the world’s largest exporter, may decline in the first quarter to the lowest level in two years as monsoon rains disrupt mining, according to a Bloomberg News survey.

Exports may drop 11 percent to 20,000 metric tons from 22,568 tons a year earlier, according to the median estimate in a survey of four company executives, an analyst and a trader this week. That’s the lowest for any quarter since the first three months of 2010 when sales were 19,975 tons, data from the trade ministry showed. Read more

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Chinese paying a premium for tin imports

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WHEN it comes to figuring out what is going on in the tin market, it seems to be a case of rounding up the usual suspect.

That, of course, is China, the world’s biggest producer both in terms of mining and refining. But it needs to import the metal to meet demand and China’s tin imports in September were up 125 per cent on the August figure and 167 per cent higher than in September last year. Read more

Indonesia’s Biggest Tin Producer Resumes Exports After Ban; Futures Slump

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By Yoga Rusmana and Eko Listiyorini

PT Timah, Indonesia’s largest tin producer, will resume exports after prices rebounded, withdrawing from a nationwide halt to shipments agreed by producers last month to counter a rout. Tin slumped for the first day in seven, while Timah shares advanced.

“As soon as the ships arrive, we will export,” Wachid Usman, president director at Pangkalpinang, Bangka-based Timah, said in a telephone interview from Jakarta today. “We haven’t been exporting since the end of last month.” Read more

Rwandan Mining Companies Expected to Boost Tin Exports Amid Record Prices

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By Heather Murdock

Tin producers in Rwanda including Rutongo Mines Ltd., the country’s biggest miner of the tin ore cassiterite, plan to boost exports as the East African nation seeks to gain from record prices for the metal, officials said.

Rutongo expects to double shipments to 200 metric tons a month by the end of 2012 from 100 tons currently, Michael Biryabarema, general director of the Rwanda Geology and Mines Authority said in a phone interview on June 28. The company, a joint venture between Rwanda’s government and Switzerland-based Ruddington Services AG, has increased exports from 3 tons a month three years ago, he said. Read more

Tin Advances to Record, Copper Gains to One-Month High, on Growth Optimism

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By Glenys Sim

Tin jumped to a record, and copper and zinc climbed to one-month highs on optimism global economic growth will sustain demand for industrial metals. Lead advanced to the highest level in three years and aluminum reached the highest price since September 2008.

Three-month delivery tin on the London Metal Exchange rose as much as 1.1 percent to $32,915 a metric ton. Copper gained as much as 1.8 percent to $9,839.50 a ton, the highest price since March 7, as the dollar slumped to the lowest since December 2009 against a six-currency basket. Read more