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Reuters reported a stoppage by Indonesian tin miners because of weak global prices has increased to encompass over 90 percent of smelters, leading shipments to decline by more than half.
Reuters reported a stoppage by Indonesian tin miners because of weak global prices has increased to encompass over 90 percent of smelters, leading shipments to decline by more than half.
As quoted in the market news:
All but one or two of the 28 licensed smelters in the main tin producing region of Bangka-Belitung have now stopped operating, said the Indonesian Tin Association, an increase from around six being shut earlier this month.
This means the islands are now only shipping up to 4,000 tonnes of tin ingots a month, down from 7,000 tonnes usually, said Johan Murod, CEO of Babel Tin Group.