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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (32720)	2/12/2007 9:18:57 PM
From: LoneClone	Read Replies (1) \| Respond to of 78421

Tin hits new record high on supply concerns Source: Hoovers metalsplace.com Persistent worries over supplies of tin from the world's major producing countries pushed London Metal Exchange prices to a fresh all-time high Monday, and brokers said further upside is likely. As of 1110 GMT, LME tin was trading at $12,625 a metric ton. News that Bolivian President Evo Morales has nationalized Swiss Glencore International's Vinto smelter is underpinning prices. The smelter produces some 12,000 metric tons of tin a year. Global tin production is around 360,000 tons a year. Similarly brokers said the arrest of top officials at Indonesia's PT Koba Tin on Saturday on charges of illegal mining is adding to the gains. PT Koba Tin is jointly owned by PT Timah Tbk. (TINS.JK), the world's largest integrated tin miner, and Malaysia Smelting Corp. Bhd. (5916.KU). PT Timah and PT Koba Tin account for about half of Indonesia's tin output. This is just the latest twist in events in Indonesia, where dozens of privately-owned smelters on Bangka island were closed last year. The central government has said the private smelters must show they meet new licensing criteria before they can resume operations. As supply side concerns continue to mount, prospects for global demand remain bullish. A recent report by tin industry specialist ITRI said consumption rose 9% last year, and this is widely expected to continue in 2007. Growth in the use of tin in the electronics sector and the expansion of lead-free soldering is leading the way for demand. And with LME warehouse stocks continuing to fall – down a further 135 tons Monday to 10,345 tons – brokers said the upside potential for tin is "sky high" as the market moves into uncharted territory. As of 1120 GMT, LME tin had moved higher still and was trading at $12,750/ton.