Tin price to rebound to $20 per ton in second half

Tin price is expected to rebound to US$20,000 per ton in the middle of the second semester as demand will traditionally increase in the end of the year, Sukrisno, President of tin mining company PT Timah, predicted.

On Tuesday, the tin metal at the London Metal Exchange was traded at $18,340 per ton. The price had dropped 4.9 percent to $18,011 per ton, the lowest level since September 23.

Sukrisno attributed the drop in tin price to the annual trend. He said the price would increase again in the second semester. ?In the first half, the price is generally lower, but it will be normal again in second semester. Hopefully, after Idul fitri, the price will be higher,? he added.

Sukrisno said that the low price had affected the company?s tin production. ?But, we are optimistic this year?s production will surpass the previous year?s,? he added. (*)