World’s Biggest Tin Exporter Cuts Output After Price Rout
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The largest tin producer in Indonesia, the world’s top exporter, is cutting output by as much as 50 percent after prices slumped to the lowest in almost six years.
PT Timah will produce 1,500 metric tons to 2,000 tons of refined tin a month starting in April, below this year’s target of 2,000 tons to 3,000 tons, Corporate Secretary Agung Nugroho said on Wednesday. The company has 6,000 tons of refined tin stockpiles, equivalent to about three months of sales, he said.