World Tin Suppliers to Expand Output to Meet Demand

Tin suppliers try to expand the output worldwide when international market price hit record high at around US$ 16,000 per tonne at London Metal Exchange and Kuala Lumpur Tin Market. The suppliers try to expand the output when the demand is expected to expand significantly in 2008. World tin supply increased after Indonesian government approved the resumption of operation for 10 refineries in the year. However, the government tries to secure the domestic supply through export quota lifting the market price to US$ 17,000 per tonne temporally. The price is still around US$ 16,000 level. Singapore Tin Industries builds new plant with annual 18,000 tonnes of output capacity through joint venture with Yunnan Tin Company. However, the plant has trouble to secure crude tin from Indonesia due to prohibition of ore and crude tin export by Indonesian government. Myanmar is hot place for the potential tin resources. Major tin refineries try to build refinery in the country. Malaysian largest refinery, Malaysia Smelting Corporation joined project in Guangxi of China to secure resources.