Largest Tin Shipper to Miss Output Target on Rainfall
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Tin production by PT Timah, the world’s largest exporter, may miss a target this year because of heavy rains and the Indonesian company is trying to renegotiate supplies with long-term customers, according to an executive.
State-owned Timah may produce 40,000 metric tons this year compared with the 45,000-ton target, Corporate Secretary Abrun Abubakar said in an interview today. Spot sales, which normally account for 20 percent to 30 percent of volumes, have been halted, he said in Jakarta, forecasting further gains in prices.