23 Feb Myanmar violence could affect tin price

Written by Mizzima Published in Economy Read 1490 times
tin-mine
 Fighting in the northern region of Shan State could eventually affect the world price of tin. Tin ore.

European tin market sources say fighting in Myanmar, rather than an effort by Indonesia to cap tin exports, is more likely to lead to an increase in the world price of tin, reports Metal Bulletin on February 20.

Currently signs of an increase in the price of tin have yet to emerge on the London Metal Exchange. On February 20, the price stood at US$18,075/100 per tonne [K18 million] on a three-month basis, yet recent news from Myanmar could be influential, particularly if the fighting there spreads.

One trader who talked to Metal Bulletin said the fighting in Kokang had the potential to affect the supply of tin concentrate significantly, as well as significantly reduce the global quantities of tin available for a sustained period.

Indonesian tin producers will cap exports at 2,000 tonnes per month, but this move has not affected the price of tin in the West.

Last modified on Monday, 23 February 2015 14:48