London, Oct, 11.
The International Tin Restriction Committee has once again revised the tin quota for the third quarter of this year from 100 per cent. to 120 per cent, with retrospective effect.
This decision of the Committee follows successive revisions of the quota for the third quarter from 45 per cent, the original limit fixed. The quota for the second quarter was 40 per cent.
At the same time, the Committee. has fixed the quota for the fourth quarter of this year at 75 per cent.
The decision of the Committee to effect a further release of tin supplies occasioned no surprise in tin circles.
Stringency in Market ni 8050 595 590 535 590 595 600 7.60 7.10 115 12 mE
395
It has recently been obvious that, for a variety of reasons, a certain amount of stringency has developed in the tin market, but the action of the Committee should effect a speedy remedy, as it brings the annual rate of exports up to 187,000 tons, against which the effectual apparent consumption for the fourth quarter is estimated at the rate of 160,000 tons annually.
It is pointed out, however, that the difference of 27,000 tons between supply and consumption should be regarded as a nominal figure, owing to the present dislocation of shipments from Bolivia and China Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.