Reuters reported tin prices plunged as PT Timah announced it will restart selling spot prices.
As quoted in the market news:
The announcement that PT Timah – the largest tin miner in the world’s biggest refined tin exporting country – had restarted spot sales knocked three month tin prices, which fell to as low as $19,450 a tonne, a slide of 6.9 percent, and closed 6.1 percent weaker at $19,620.
Prices had shot up 13 percent last week on news that more than 90 percent of Indonesian tin miners had stopped production.
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