Smelters outside Indonesia hurt by tin rule
Sep 06, 2013 | 10:25 AM
| Claire Hack
LONDON Smelters that rely on lower-purity tin could be hurt by Indonesias new regulation requiring material to be 99.9-percent pure in order to be exported.
"The quality issue will affect other smelters outside of Indonesia who had previously relied on crude tin as feed, which theoretically can no longer be shipped," a trader told AMM sister publication Metal Bulletin. "On the (London Metal Exchange), I would say the situation is affecting the market, with tin being the only metal (in recent days) to increase in price as the others fell."
Three-month tin climbed to $22,295 per tonne Sept. 5, the first time the price breached $22,000 in four weeks, following PT Timah Tbks declaration of force majeure, which was linked directly to the new legislation (amm.com, Sept. 4).....
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