PT Timah cuts output, delays exports on coronavirus
2020-03-18 14:21:14 [Print]
Indonesian tin miner PT Timah, the world's second-largest producer, said it is temporarily reducing its production and will delay exports as the coronavirus outbreak has impacted demand for the metal.
"In the current situation, due to coronavirus outbreak, many companies are stopping production and this has reduced demand and prices continue to see correction," Chief Executive Riza Pahlevi said in a statement distributed late on Tuesday.
He said the company is delaying some exports and is reducing its monthly output by 20%-30% while it gauges the global demand.
"In the current situation, due to coronavirus outbreak, many companies are stopping production and this has reduced demand and prices continue to see correction," Chief Executive Riza Pahlevi said in a statement distributed late on Tuesday.
He said the company is delaying some exports and is reducing its monthly output by 20%-30% while it gauges the global demand.
Tin Conc. 60%min Delivered China
Unit:RMB/mtm
China tin ingot producers' inventory to production ratio statistics by province by month
Unit: %
