Passage 2
The price of tin on the European spot market rose to 4, 400 pounds per ton, reflecting widespread production cuts in the world tin industry, at a two-day meeting in Indonesia,the association of tin-producing countries, whose members represent 70 percent of world tin output, decided to strengthen their co-operation in a bid to stabilize tin prices and to call on the United States to limit sales of tin from its strategic stockpile. Platinum progressed at the outset on concern about strike action in South African mines but quickly fell victim to profit-taking as work resume.
What isstrategic stockpile?
Strategic stockpile is the stock for future use when faced with extremely difficult situations.
