THE TIN MARKET

Poverty Bay Herald, Volume LIII, Issue 16475, 20 October 1927, Page 7

THE TIN MARKET

NEW CONTROL SCHEME PRICE FIXATION POLICY (British Official Vi iroloss.) R<>e. 10 a.m. LONDON, Oct. 18. A schema to control the world price of tin, which has been discussed by British, American, and Dutch interests during the past week, has now, it is stated, been brought to an advanced stage, and a public announcement may be expected within the next few days. The following details of the scheme are unofficially published: A pro(ivceis* association will lie formed, which will fix the world price of tin for at least a year ahead. The first price at which it will be fixed will be £3OO per ton. Great Britain controls, within the British Empire and elsewhere, 50 per cent, to 60 per cent, of the world’s total production. America is responsible for 20 per cent, to 2f> per cent., anti the greater part of the remaining supplies come from the Dutch East Indies and China. The price fixed by the new producers’ association would, therefore, be accepted practically throughout the world. The object of the scheme is to establish a world price of tin at a reasonaide figure which will enable the consumer to know exactly what his supplies will cost, and rid the market of the operations of the speculator - , which have caused the price to vary so widely during the past few years.