Interesting to read the Minsur and PT Timah quarterly and half year reports. These are two of the bigger players in the Tin market doing around 100kt Sn in 2019 or around 30% of global market. Both have had considerable drops in production over the first half... PT Timah appears more discretionary reduction whilst Minsur impacted by Covid in Peru.
Interesting comment by PT Timah too - “As one of the largest tin producers in the world, it is time for Indonesia to be able to determine the price of tin on the market”.
You get the feeling any slight pickup in demand could see the tin price rocket. It does seem there’s near term dumping in China to sell product before an increase in royalties on 1 Sept. This from SMM “The resource tax of tin mines were raised last Friday. The miners actively sold the inventories before the implementation of the policy on September 1, increasing the market supply in the near term and curbing SHFE tin prices”
MLX Price at posting:
8.4¢ Sentiment: Hold Disclosure: Held
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