halliday's tin venture looks the goods, page-4

Tin Advances

Tin for three-month delivery on the LME rose 0.7 percent to $23,320 a ton after touching $23,410, the highest intraday price since July 23, 2008. The metal is this year?s best performer in London, gaining 38 percent, compared with the 26 percent advance by closest rival nickel. Tin climbed to a record $25,500 a ton on May 15, 2008.

LME stockpiles, down 49 percent this year, today rose 0.4 percent to 13,580 tons, according to figures from the exchange. One party held between 40 percent and 49 percent of the inventory as of Sept. 13, according to the LME.

?The general ban on mining in the tin-rich eastern provinces of Congo, Africa?s largest tin producer,? is aiding prices, Eugen Weinberg, an analyst at Commerzbank AG, said in a report yesterday. Democratic Republic of Congo President Joseph Kabila suspended all mining operations in three eastern provinces, the mines ministry said on Sept. 11.

Tin also advanced this year on prospects for a drop of about 20 percent in output from Indonesia, the biggest exporter, as adverse weather disrupts mining. This was on bloomberg 16.9.10 today about 4.00pm Cheers Kevin.