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Reuters reported tin prices plunged as PT Timah announced it will restart selling spot prices.
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.