Timah to limit sales volume, price to recover
Thursday, September 18 2014 - 01:42 AM WIB
By Maryati Dimursi
IDX-listed tin giant PT Timah Tbk will limit sales volume at around 23,000 tons in the second semester of this year amid weak market price.
Corporate Secretary Agung Nugroho said Wednesday that the strategy combined with efforts by the government of Indonesia, the world's largest tin exporter, to curb illegal shipment of tin will help recover price to US$25-26 per ton, compared to the current level of around $23.
He said the police have recently seized 91 containers of illegal tin.
Output of illegal tin miners from Indonesia has been seen as a major factor undermining price of the commodity.
Editing by Reiner Simanjuntak