Indonesia's Timah sees 2011 tin price rise

JAKARTA: Indonesia's state-owned PT Timah, the world's largest integrated tin miner, said on Monday it expects 2011 tin prices to be between “$25,000-$30,000” a tonne.

Tin prices have tracked copper to fresh record highs this month, supported by supply shortages from top producer Indonesia.

On Friday, benchmark tin on the London Metal Exchange closed up $655 at $31,200, off an earlier record peak of $31,300.

Timah also said on Monday it expects a 2011 net profit of around 1 trillion rupiah.