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Reuters reported that provincial government and smelter officials in Indonesia will meet in the next couple of weeks to talk about a potential export moratorium on tin. They are looking to help support global prices for the metal.
Reuters reported that provincial government and smelter officials in Indonesia will meet in the next couple of weeks to talk about a potential export moratorium on tin. They are looking to help support global prices for the metal.
As quoted in the market news:
As benchmark London Metal Exchange (LME) tin prices trade at two-and-a-half-year lows, the governor of Bangka-Belitung, Rustam Effendi, is spearheading talks on whether to halt exports, Agung Nugroho, corporate secretary at the country’s biggest tin miner PT Timah told Reuters by text.
The Indonesian Association of Tin Exporters said that the discussions were ongoing. Some members had agreed to the export plan, but many were still undecided, association president Jabin Sufianto said by text.
PT Timah would not back such a plan, Nugroho said, and both he and another senior industry official contacted by Reuters were sceptical that if implemented, it would have the desired effect.