TIN MARKET SURPRISES

Northern Advocate, 26 July 1935, Page 10

TIN MARKET SURPRISES

SPOT PRICE FLUCTUATIONS. POSITION MADE CLEAR. [British Official Wireless.l RUGBY, July 24. In reply to questions in the House of Commons regarding the shortage of tin and the exceptional rise in the price on the 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 tiie normal demands likely to be made in the near future. He understood that a meeting of the committee would be held in a few days to consider the situation. The representatives of Malaya and Nigeria on the Internal Tin Committee and the Buffer Stock Committee were fully aware of the importance of preventing any shortage of tin. Replying to a supplementary question, 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 today, when Mr E. J. Byrne said the majority of the producers and consumers were not concerned with the acrobatics of the spot price, since they bought forward, and he added that there had been, and in plenty, forward tin for delivery at a fair and stable price.