PT Timah plans Q1 production at 33,000-36,000 MT
Tuesday, February 27 2001 - 04:30 AM WIB
PT Tambang Timah plans to produce around 33,000-36,000 metric tons of tin ingots in 2001, compared with 35,000 tons in 2000, a company official told Dow Jones Newswires Monday.
A downward trend in production is possible because the world tin price "has been declining for the last three, four years," said the company's corporate secretary, Prasetyo Saksono.
Saksono said that last year, the price of tin hit $5,000/ton, its lowest level in the past few years.
At 1022 GMT, benchmark three-month tin futures on the London Metal Exchange was quoted at $5,165/ton.
Saksono said Timah will release its full-year operation results Tuesday.
The world's single largest tin producer's production capacity is 45,000 tons a year. (*)