Timah Restarts Tin Spot Sales After Advances, Sukrisno Says
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PT Timah, the third-largest tin producer, has restarted spot sales from Indonesia after prices surged, reversing a decision to curb supplies after less than a month. Futures tumbled, leading declines in base metals.
Total sales by the Pangkalpinang, Bangka Belitung-based company may increase to 36,000 to 37,000 metric tons this year from 33,000 tons in 2011 to maintain revenue, President Director Sukrisno told reporters in Jakarta today. Tin may advance to $22,000 a ton by year-end, he said.