The indoesians are losing money on their tin operations now ,and at these prices many operations are unviable . After checking some currency charts it is easy to see why the indonesians are shutting down their tin production . While Australias currency has buffered the tin price in AUD and holding around the $20,000 AUD ,the indonesians are not that lucky .The Indonesian Rupiah has actually risen considerably against the US dollar ,and this effectively gives them a double whammy .This will certainly curtail production for months and 3000t of production per month will be lost from shutting down their smelters .There is only about 4500t of tin available on the LME .The next couple of months will be very ,very interesting indeed There is a supply crunch coming in a very short term .Tin will bounce back with a vengeance ,within weeks in my opinion ,irrespective of the global problems .
MLX Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
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