Bloomberg reports that Tin producers in Rwanda including Rutongo Mines Ltd. intend to increase exports as the nation seeks to gain from record prices for the metal.
The market news is quoted as saying:
Three-month delivery tin rose 0.2 percent to $25,900 a ton at 12:44 p.m. on the London Metal Exchange. The metal, which traded at a record $33,600 a ton on April 11, has gained 49 percent over the past 12 months. Tin may trade at $23,000 to $27,000 a metric ton in the second half of this year as demand from Japan remains weak after an earthquake and tsunami in March, according to PT Timah, the world’s biggest exporter.
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