MSC hit by sharp drop in tin prices

KUALA LUMPUR: Malaysia Smelting Corp Bhd’s (MSC) performance was affected by the sharp drop in tin prices, which was reflected in its third quarter (3Q22) report.

Fears of a global recession, lower tin demand due partly to China’s zero-Covid policy and easing of scarcity as smelters resumed operations saw prices of tin fall by 26% year-on-year (y-o-y) to RM104,700 per tonne in the quarter.