SHANGHAI, Sep 5 (SMM) – Major Chinese tin smelters have agreed to slash production by a combined volume of 20,200 mt, and Indonesian tin supplier PT Timah (Persero) Tbk also said it will cut production by over 10,000 mt, SMM learned.
The agreement was reached at Asia Tin Week 2019, which was held by the International Tin Association in Xi’an, capital city of Shaanxi province, during September 3-5, in a bid to counter raw material supply tightness and prop up the market.
A curtailment of over 30,200 mt accounts for about 10% of the global production of refined tin a year.
Yunnan Tin, the largest tin producer and exporter in China and the world, said on Wednesday September 5, that its refined tin output for 2019 will be 10% less than previously planned after the production cut.
