PT Timah cuts output, delays exports on coronavirus
Image courtesy of International Tin Association.
Indonesian tin miner PT Timah, the world’s second-largest producer, said it is temporarily reducing its production and will delay exports as the coronavirus outbreak has impacted demand for the metal.
“In the current situation, due to coronavirus outbreak, many companies are stopping production and this has reduced demand and prices continue to see correction,” chief executive Riza Pahlevi said in a statement on Tuesday.
He said the company is delaying some exports and is reducing its monthly output by 20%-30% while it gauges the global demand.
(By Fransiska Nangoy; Editing by Christian Schmollinger)
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