Defeated ArcelorMittal Lowers Tin Price

Tin Investing News reports on the market forces picking on tin prices.

The South African steel group, which has its origin in India, has agreed to cut tin-plat prices between 26 per cent to 30 per cent from September 30, 2009. The company maintains that the slashing of price is in line with an agreement with its key customers in the packaging industry.

In other words, no one was buying the decision to hike prices. Also playing spoilsport was the weakness in the rand, which turned out to be one of the worst performing currencies globally in 2008, and the 25 per cent rise in international tin-plate prices.

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