JUMP IN TIN PRICES

Dominion, Volume 28, Issue 256, 26 July 1935, Page 11

JUMP IN TIN PRICES

Reply to House of Commons Questions

(British Official Wireless.)

(Received July 25, 5.5 p.m.)

Rugby, July 24.

In reply to House of Commons questions regarding the shortage of tin and the exceptional rise in price on London metal exchanges on Monday, the Colonial Secretary, Mr. Malcolm MacDonald, said he was informed that the Buffer Stock Committee had at its disposal sufficient tin to meet normal demands likely to be made in the near future. lie understood that a meeting of the committee would be held in a few days to consider the situation. Representatives of .Malaya auid Nigeria on the International Tin Committee and Buffer Stock Committee were fully aware of the importance of preventing any shortage of tin. Replying to a supplementary question as to whether he would consider appointing a special committee to inquire into the operations of the International Tin Committee, Mr. MacDonald said that since the establishment of the committee, the fluctuations in price which used to take place had been very considerably reduced. The subject was discussed at the annual meeting of the Tin Producers’ Association to-day when Mr. E. J. Byrne said the majority of producers and consumers were not concerned with the aerobatics of the spot price since they bought forward, and he added that there had Iteen and is plenty of forward tin for delivery at a fair and stable price. The settlement price on rhe metal market this afternoon was £233/10/per ton.