tin jumps 5 percent

Tin jumps over 5 pct to $21,550/t on supply concerns
Thu, Aug 21 2008, 10:41 GMT
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LONDON, Aug 21 (Reuters) - Tin jumped more than 5 percent on expectations that supply from Indonesia, the world's second-largest tin producer after China, will decline, traders said.


Tin for three-month delivery on the London Metal Exchange rose to $21,550 a tonne from a last quote of $20,500/20,505 on Wednesday.


Consultancy ITRI said the global tin supply deficit was forecast to reach up to 20,000 tonnes in 2008 due to falling supplies from Indonesia, revising up an earlier estimate of 12,000 tonnes.


It also estimated refined output from Indonesia of 71,500 tonnes in 2008, down from 78,000 tonnes last year. [ID:nSP268399]


(Reporting by Julie Crust; Editing by Peter Blackburn)


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