Executives of PT Timah, Indonesia’s state-controlled tin company, told Bloomberg that the company’s sales of refined tin this year could reach 50,000 tonnes if prices and demand continue to recover.
“If prices rise to about $18,000 to $20,000, we can enter the spot market to add to contractual sales; that can boost sales to 50,000 tonnes,” Corporate Secretary Abrun Abubakar said today in Jakarta. “We still target sales volume of 45,000 tonnes to 47,000 tonnes this year.”
“Prices of commodities are recovering, which can help demand” for tin, Finance Director Krishna Syarif said. From the second quarter onward, “sales can be at least 4,000 tonnes a month,” after a total of 11,014 tonnes in the first three months,” Syarif said. Timah sold 46,438 tonnes of tin in 2008.
