June 23, 2011 / 10:43 AM / 7 years ago

Indonesia's Timah sees tin price between $23,000-27,000/T in H2

JAKARTA, June 23 (Reuters) - Timah , the world’s largest integrated tin miner, said on Thursday it saw tin prices trading at $23,000 to $27,000 per tonne in the second half of this year, lower than its full year target price.

Tin for three-month delivery on the London Metal Exchange traded at $25,160 a tonne at 1007 GMT. The metal, used in solders and tinplate, touched its lowest level since December 2010 at $24,510 per tonne on June 14.

“In the next three to six months demand will still be impacted by Japan’s earthquake, but it may steady helped by demand from South Korea,” said Gatut Hari Prasetyo, Timah’s commercial and business development director.

Timah said in February that the tin price in 2011 will be around $25,000 to $30,000 per tonne.

Tin prices hit a record high of $33,600 per tonne on April 11 but since then there has been a broad commodity sell-off, as investors worry about the pace of global economic growth. (Reporting by Fathiya Dahrul; Editing by Neil Chatterjee)

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