Metals - Tin hits fresh all-time high as exports from PT Koba Tin dwindle
Thursday, February 15, 2007 3:13:12 PM
http://www.afxpress.com
LONDON (AFX) - Tin hit a fresh all-time high above 13,000 usd a tonne in London
on reports Indonesian authorities have shut down most of PT Koba Tin's
operations
The shut-down temporarily sidelines about 17,000 tonnes of tin production,
equivalent to about 5 pct of world output
At 2.45 pm, LME tin for 3 month delivery was up at 13,100 usd a tonne against
12,700 usd at the close yesterday. Earlier, the metal hit 13,200 usd -- its
highest ever level
"We think prices could climb even higher if the Indonesian situation continues
to drag on as it is," said Man Financial analyst Ed Meir
He added it is also unclear whether the nationalisation of the Glencore's
12,000 tonne-a-year Vinto smelter will result in lower Bolivian tin production
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