After rising by 35% to 58,000 tonnes in 2007, PT Timah’s refined tin sales are forecast to remain at the same level in 2008. The Indonesian state-controlled tin company’s sales numbers were provided to Dow Jones today by President Director Wahid Usman.
Sales in 2006 were 42,613 tonnes, but had already reached 47,270 tonnes in the first nine months of last year, according to the company’s published financial results.
Usman told Dow Jones that he expects the price of tin to continue to rise this year due to a decrease in supply. He refused to give a tin price estimate for 2008. “I don’t want to affect the market sentiment,” he said.
Timah is adding to its offshore dredging and smelting capacity this year and is also planning to invest in downstream tin products and coal production.
