- Reuters•9 months ago
An El Nino weather pattern that is expected to be the strongest in nearly 20 years looks set to hit copper mining over the coming months, but should boost production of bauxite, nickel ore and tin in 2016, industry sources said. The weather phenomenon leads to hotter sea temperatures in the west Pacific Ocean, which means more rain falls on South America and less in Australia and South East Asia. A shorter monsoon in Indonesia the Philippines and Malaysia can help miners produce more tin, nickel and bauxite - key materials for the construction, transport and electronics industries.
- Bloomberg•2 years ago
Myanmar is emerging as the new frontier in the tin industry as Indonesia, the biggest shipper, seeks to restrict supply and boost prices. Output in Myanmar will rise by 12 percent to 28,000 metric tons next year, giving it 10 percent of the global market, according to ITRI Ltd., a St. Albans , England-based industry group. Production will keep increasing partly because Myanmar Pongpipat Co. plans to expand its southern Heinda mine, Managing Director Kriangkrai Chavaltanpipat said in an interview. Tin retreated 13 percent on the London Metal Exchange this year, the biggest loser on the bourse, as supplies increased even after Indonesia tightened rules on exports.
|52wk Range||451.00 - 890.00|
|Day's Range||810.00 - 825.00|
|Avg Vol (3m)||13,497,581|
As of 5:14 AM EDT. Market closed.