Tin May Rise to $14,000 a Metric Ton in 2007, Timah's Alwi Says
By Claire Leow Feb. 23 (Bloomberg) -- Tin may rise to $14,000 a metric ton this year after the Indonesian government moved to stem illegal mining, Thobrani Alwi, President-Director of PT Timah, Indonesia's largest tin miner, said. Tin for delivery in three months reached $13,975 a ton yesterday, its highest since at least 1989. It traded at $13,700 a ton in after-hours trading today on the London Metal Exchange at 2:29 p.m. Jakarta time. The price of the metal, used in soldering, has risen more than 40 percent since Indonesia, the world's second-biggest producer, began a crackdown on illegal production in October. Indonesian tin producers, with operating licenses and proof of paying royalties, have until midnight today to register for the right to export refined tin of 99.85 percent purity. Tin trading at ``$13,000 to $14,000 a ton is a reasonable price for us,'' Alwi said by phone late yesterday from Bangka, where the company is based. The curbs have cut off ore exports to Malaysia and Thailand for smelting, and they will take some time to resume, he added. Only seven producers have applied for new tin export licenses, and Timah is the only one that meets government requirements, trade ministry official Diah Maulida said yesterday. Maulida, director general of foreign trade at the ministry, could not be reached for comment today. There were 37 smelters in Bangka Belitung province, the source of tin in Indonesia, said Apik Chakib Rasjidi, who chairs the Indonesian Association of Tin Industry. His association represents 22 smelters. While Timah is benefiting from the higher prices, any ``higher than $14,000 a ton is very difficult for us because then users can substitute tin with other metals,'' Alwi said. ``No more than that is good.'' Higher tin prices may also persuade miners in Australia, New Zealand and Russia to resume tin-mining, Alwi said. ``They could have reserves, whether in Australia or Russia, but at a high cost,'' he said. ____________________________________________________________________________________ TV dinner still cooling? Check out "Tonight's Picks" on Yahoo! TV. http://tv.yahoo.com/ ------------------------ Yahoo! Groups Sponsor --------------------~--> Check out the new improvements in Yahoo! Groups email. http://us.click.yahoo.com/4It09A/fOaOAA/yQLSAA/vbOolB/TM --------------------------------------------------------------------~-> DILARANG KERAS MEMOSTING OPINI PRIBADI TENTANG POLITIK DI MILIS INI. Silahkan lakukan itu di milis [EMAIL PROTECTED] [EMAIL PROTECTED] untuk unsubscribe dari milis saham [EMAIL PROTECTED] untuk subscribe ke milis saham Yahoo! Groups - Join or create groups, clubs, forums & communities. Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/saham/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/saham/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups - Join or create groups, clubs, forums & communities. is subject to: http://docs.yahoo.com/info/terms/
