Latest News
-
Indonesian exchange starts tin trading
The Indonesia Commodity & Derivatives Exchange (ICDX) started trading a physical tin contract today to create an alternative price benchmark to the London Metal Exchange, after twice delaying the initiative. Bloomberg reported that two lots of 5 tonnes traded before the contract settled at $24,500/tonne. The introduction was delayed from December 15 and January 12 to allow potential users more time to prepare.
The move to set up the new INATIN benchmark was supported by the government through the Commodity...
-
Renison grades fall, costs rise
Metals X reported a further fall in production from its joint-venture Renison tin operations in Tasmania in the December quarter, with a decline in ore grades pushing up operating costs per tonne of contained tin. Tin-in-concentrate production in the three months was 1,186 tonnes, 5% lower than in the previous quarter, with operating costs rising to A$19,541/tonne (US$20,857/t at current exchange rate). The average grade of ore treated by the concentrator was 1.34% tin, down from 1.60% in the...
-
Fall in Vinto production
Tin output from Bolivian state producer Empresa Metalúrgica Vinto (EMV) declined to 10,965 tonnes in 2011, compared to 11,516 tonnes in 2010, though sales revenue increased, Business News Americas reported, quoting local sources. Despite the lower output, the company increased export revenues from the metal from US$ 233 million in 2010 to US$ 293 million in 2011 as a result of higher prices.
The company expects output to reach 11,300 tonnes in 2012 according to the reports. EMV is...
-
Jiangsu Sunshine tinning line goes into full production
The Electrolytic Tinning line supplied by Tenova Strip Processing to Jiangsu Sunshine in Dajiang, China, recently went into full production. The plant will produce 250,000 mt/year of tin plate for sale on both the local and the export markets. The line utilizes a patented tin dissolution reactor to dissolve the tin into the plating electrolyte, which reduces the waste sludge to a minimum, with significant benefits for the environment and operating costs.
Compared with traditional soluble anodes, insoluble anodes offer notable advantages in terms of the...
-
Analysts forecast lower LME metals prices
Reuters released the results of its latest six-monthly poll of analysts' base metals price forecasts on Friday. Up to 32 analysts contributed forecasts for different LME metals to the survey (21 providing tin price forecasts) and across the board the "consensus" view was that average prices for all six metals in 2012 would be lower than last year, with a pick-up then expected in 2013.
Following an average LME cash settlement price of $26,025/tonne in 2011, tin price forecasts...
