Malaysia's tin output falls

Malaysia's tin output falls

KUALA LUMPUR (AFP): Malaysia's tin production fell 45 percent
in the seven months to July over the same period last year while
exports rose by four percent, the statistics department said
yesterday.

The country produced 588 tons of tin in July, up 11 percent
from a month earlier but 36 percent lower than July a year ago,
the department said in its monthly tin report.

This brought total output for the first seven months to 3,828
tons, a fall of 45 percent over the corresponding period of last
year, the department said.

Despite the fall in output, the country's export of tin rose
four percent to 21,598 tons during the period.

Domestic total consumption was also up three percent to 2,996
tons, it said.

Despite shrinking output, prices continued their decline as
the industry was plagued by poor demand.

On the Kuala Lumpur Tin Market (KLTM) yesterday, prices closed
four sen lower at 13.65 ringgit per kilogram, after a surge last
week.