Friday, June 24, 2011

Timah sees 2H 2011 tin price at $23,000-27,000/t

PT Timah, the world's largest integrated tin miner, believes tin will be trading at $23,000 to $27,000 per tonne in the second half of 2011, lower than its full year target price. "In the next three to six months demand will still be impacted by Japan's earthquake, but it may steady helped by demand from South Korea," said Gatut Hari Prasetyo, Timah's commercial and business development director.

Tin prices hit a record high of $33,600 per tonne on 11 April but there has since been a broad commodity sell-off.

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