JAKARTA - PT Timah Tbk (TINS) projects that tin prices will rebound in early 2021, following recovery trend started in the third quarter (Q3) of 2020.
Wibisono, TINS' finance director, said in a press release quoted on Wednesday (4/11) that higher demand for tin and the clinical trial of COVID-19 vaccines in a number of countries contributed to the recovery. "Demand for refined tin demand in Q3 2020 was recorded at 85.7 kilotons, 8.07% higher than its record in Q3 2019 of 79.3 kilotons," he said.
At present, TINS exports 98% of its tin products to a number of foreign markets in Asia, Europe and the US. (LK/AR)