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Tin Climbs to Highest in Month in Shanghai on China Smelter Cut

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Aluminium cans are seen compressed before recycling in Hong Kong on February 20, 2013. Activists have claimed for years that Hong Kong lags behind the rest of the world on environmental issues ranging from recycling to lanes for cyclists. AFP PHOTO / Philippe Lopez (Photo credit should read PHILIPPE LOPEZ/AFP/Getty Images)
Photographer: Philippe Lopez/AFP/Getty Images
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Tin futures climbed to the highest in a month in Shanghai after smelters in China, the biggest supplier, agreed to cut production by more than 10 percent in a bid to stem a decline in prices to the lowest level since 2009.

Companies representing more than 80 percent of the country’s output, including the largest producer Yunnan Tin Co., plan to reduce refined supply by 17,000 metric tons, according to a joint statement received by e-mail on Wednesday. The nine companies produced 138,000 tons in 2015, according to data from ITRI, an industry group.