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Print[Ferro-Alloys.com] A stoppage by Indonesian tin miners because of weak global prices has increased to encompass over 90 percent of smelters, leading shipments to decline by more than half from the world's top exporter of the metal, tin executives said on Friday.
All but one or two of the 28 licensed smelters in the main tin producing region of Bangka-Belitung have now stopped operating, said the Indonesian Tin Association, an increase from around six being shut earlier this month.
"Tin prices are still not at a profitable level for production, so smelters are still waiting for a good price," the tin association's president Hidayat Arsani told Reuters, adding prices would need to reach USD23,000 to cover production costs.
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