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PT Timah margins dented by price fall

Post By: Peter Kettle on Tuesday, 01 November 2011

Indonesia's state-controlled tin producer PT Timah reported an 81% year-on-year rise in net profit to Rp 860 billion (US$99 million) in the nine months to September 2011, but its operating margin has slipped recently as a result of the fall in LME prices in the third quarter. Average margin per tonne in the year to date was US$4,895, but the figure for Q3 fell to $3,166/tonne. The average price received in the latest three months was $25,970/tonne versus delivered...

Some Indonesian producers extend export ban

Post By: Peter Kettle on Monday, 31 October 2011

Fifteen tin producers in Indonesia, the world's largest exporter, agreed to extend a self-imposed ban on exports until the end of the year to help boost prices, Bloomberg reported. They will seek to widen support for the halt at a further meeting this week. All companies agreed in late September to halt exports from October 1 until LME prices recover to between $23,000 - $25,000/tonne.

The companies took the decision at a meeting in Pangkalpinang, Bangka Belitung province on...

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