JAKARTA. PT Timah (Persero) Tbk (TINS), a tin producing company owned by the Indonesian government, is reducing its production by around 20% to 30% due to the low price of tin in the market
Riza Pahlevi, President Director of TINS, said that the cut in production was also caused by the spread of the coronavirus or Covid-19, which causes the production of electronic goods in a number of countries fell.
"According to the information is that the world industry, China in particular, has resumed production, but gradually, we are still waiting," said Pahlavi as reported by Bisnis Indonesia on Wednesday (18/3) today.
TINS hopes that the price of tin in the global market can rise again. For information, the price of on the London Metal Exchange was recorded at US$ 14,250 per metric ton, declined by 17% year-to-date. (KR/AR)