"The company is closely monitoring domestic raw material
supply," it told Reuters in a statement, adding that it would
make "timely adjustment" as the impact on supply hinged on the
implementation of the suspension.
On Monday, an official of the United Wa State Army, a
militia of Myanmar's Wa ethnic minority, had said it would
suspend all work from August at mines in areas under its
control. News of the mining ban boosted prices of the metal, used in
the electronics and semiconductor industries.
The benchmark tin contract on the London Metal Exchange surged to its highest in more than two months, to stand
up 1.2% at $27,705 a tonne by 0527 GMT, extending a jump of 8.9%
in the previous session.
Prices also surged in China, the world's biggest producer of
refined tin, which relies on Myanmar for more than 70% of its
imports of tin ore. Shares of Yunnan Tin stood up 3% at 17.37 yuan ($2.53) on
Tuesday, following the previous day's surge of as much as 10%.
($1=6.8719 Chinese yuan renminbi)
(Reporting by Siyi Liu and Dominique Patton; Editing by Tom
Hogue)
