Tin hits a new high of US$ 31,800

Tin climbed as much as 1 percent to a record $31,800 a ton, surpassing the previous peak of $31,650 reached on Feb. 8, before dropping 0.3 percent to $31,400. Output of refined tin by PT Timah, Indonesia’s largest producer, was 40,413 tons last year, down from 45,086 tons in 2009, the company said Feb. 7. 

Tin was the LME’s best performer last year, jumping 59 percent as supplies from Indonesia, China and the Democratic Republic Congo dwindled. China is the world’s largest producer and Indonesia the largest exporter.