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W resources plc

Tin prices jump after China’s Yunnan Tin flags output cuts

Tin prices jumped in Shanghai and London on Thursday after Yunnan Tin, the world’s biggest refined tin producer, said it was cutting production as part of a joint action by Chinese smelters in response to tight ore supply.

The most traded tin contract on the Shanghai Futures Exchange, for delivery in January 2020, rose as much as 4.8% to 145,090 yuan ($20,455.96) a ton, its highest since June 19, after Yunnan Tin said its 2019 refined output “will be reduced by about 10% compared with the annual production plan.”

W Resources Plc (LON:WRES) engages in the exploration and development of tungsten, tin, copper, and gold properties.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.