Timah Halts Tin Sales After Prices Tumble to Lowest in 30 Months
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PT Timah, Indonesia’s biggest tin producer, halted sales of the metal used in soldering and packaging after prices dropped below $19,000 a metric ton.
The company has suspended offering refined tin ingots on the Indonesia Commodity and Derivatives Exchange and halted sales of other products, Timah’s Corporate Secretary Agung Nugroho said in a phone interview from Jakarta on Friday. A proposal by the governor of Indonesia’s largest tin-producing region for an export stoppage is an “inappropriate move,” according to Timah President Director Sukrisno.