Tin Prices Jump As China, Indonesia Smelters Flag Output Cuts

Tin prices jumped in Shanghai and London on Thursday after some of the world's top refined tin producers said they would cut production this year following a recent slump in prices for the metal.

In total, producers including the world's top two - China's Yunnan Tin and Indonesia's PT Timah – will reduce production by around 30 000 tonnes this year.

Estimates of global tin supply this year previously ranged mostly between 350 000 and 380 000 tonnes, meaning around 8% of supply is coming out of the market.

A group of 14 Chinese smelters, led by Yunnan Tin, said they had agreed to cut a total of 20 200 tonnes of output this year.