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Indonesia’s Biggest Tin Producer Resumes Exports After Ban; Futures Slump
Oct. 11, 2011 02:31PM PST
Industrial MetalsBloomberg reported PT Timah (JAK:TINS) will resume exports after prices rebounded, withdrawing from a nationwide ban.
Bloomberg reported PT Timah (JAK:TINS) will resume exports after prices rebounded, withdrawing from a nationwide ban.
As quoted in the market news,
Timah’s decision to reenter the global market, taken as the metal gained to $23,000 per metric ton, may depress prices. While some private smelters are waiting for $24,000 before they restart exports, there was a need for a government-imposed export quota in the future, according to Rudy Irawan, deputy chairman of the Indonesian Tin Industry Association.
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