Yesterday (Monday 20 April 2015) the price of tin surged by 6.7%, the most it had in three years, as signs of declining supplies spurred buying.
In an article for Bloomberg, Agnieszka de Sousa and Debarati Roy report that stockpiles tracked by the London Metal Exchange fell to the lowest since October, and Indonesia’s largest private smelter, Refined Bangka Tin, will halt production this week. The journalists argue that these factors helped the price of tin climb 6.7% to settle at $15,525 a metric ton, the biggest jump since January 2012.
The rising price of tin will be beneficial to developers and explorers such as Stellar Resources, especially as buyers may decide to stay away from unstable markets such as Indonesia and instead look for long-term stable supplies of tin in Australia.
To read more about this story featured on Bloomberg, click on the link below: