Tin futures surged by over 10% to above $27,365 per tonne, the highest in eight weeks on supply fears after the world' s third-largest producer Myanmar issued a ban on mining activities. The Central Economic Planning Committee of the Wa State announced that all mining and processing activities will be " suspended" from the start of August to preserve the remaining resource. China' s tin smelters are particularly exposed even though they have been trying to cut their dependence on Myanmar ore. The ratio of Myanmar imports has fallen from nearly 100% of total ore and concentrates imports over the middle of the last decade to 77% in 2022. On top of that, Indonesia, the largest exporter of the metal in refined form, is mulling an export ban to stimulate the build-out of downstream processing capacity.
Resources is limited, if demand is there I believe we will never be wrong. I bought at 202c three weeks ago after knowing that tin price was rebounding but soon after share price came down to 182c but I am still holding it until now.
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Tin is the present and future. .the past tin not so important as now onwards. Many people takut msc from bad experience cant blame them. But for me thats thrle past. Believe in wat u buy
For the attention of MSC shareholders, can keep this in your diary: Starting from August 1, 2023, all mining activities, including exploration and processing, will be suspended in the Wa state to preserve remaining resources. Additionally, Indonesia aims to encourage domestic processing by banning the export of tin ingots. https://tradingeconomics.com/commodity/tin
MSC will not peform due to the ringgit devalue and yet there raw material bought from other mine for the refining activities. so will affect the margin also. will go back to below rm1.50.
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Ahahah
453 posts
Posted by Ahahah > 2023-04-18 15:27 | Report Abuse
Only 1 day activities. No energy again.