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    TINS   ID1000111800

PT TIMAH TBK

(TINS)
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Copper prices dip as premiums fall, inventories rise

04/06/2021 | 09:53pm EDT

HANOI, April 7 (Reuters) - Copper prices declined on Wednesday as lower premiums and rising inventories underscored weaker-than-expected demand pick-up in China during one of its traditionally strong consumption season.

Three-month copper on the London Metal Exchange fell 0.2% to $9,026 a tonne by 0128 GMT, while the most-traded May copper contract on the Shanghai Futures Exchange slid 0.1% to 67,150 yuan ($10,272.30) a tonne.

Yangshan copper premium <SMM-CUYP-CN> was last at $57 a tonne, hovering around its lowest since Nov. 30, 2020, indicating subdued demand for imported copper into China where consumption is expected to be strong in the second quarter.

Meanwhile, inventories have been rising in LME and ShFE warehouses. <MCUSTX-TOTAL> <CU-STX-SGH>

FUNDAMENTALS

* LME aluminium fell 0.8% to $2,250.50 a tonne, nickel declined 0.7% to $16,625 a tonne, while tin rose 0.5% to 25,940 a tonne.

* ShFE aluminium declined 0.8% to 17,395 yuan a tonne, tin dropped 0.5% to 184,930 yuan a tonne, while zinc rose 0.3% to 21,845 yuan a tonne.

* Major tin producer Indonesia's PT Timah's 2021 refined tin output is seen falling 25.6% year-on-year to 34,000 tonnes, while sales of the product is set to fall 44.4% annually to 31,000 tonnes this year, a company official said.

MARKETS NEWS

* Asia equities are set for a sluggish open after Wall Street pulled back from record highs reached in previous sessions, as investors eye the upcoming earnings season for more signs of a recovery.

DATA/EVENTS (GMT)

0600 UK Reserve Assets Total March

0750 France Markit Serv, Comp PMIs March

0755 Germany Markit Services PMI March

0755 Germany Markit Comp Final PMI March

0800 EU Markit Serv, Comp Final PMIs March

1430 US International Trade Feb

1800 Federal Open Market Committee will release the minutes

from its March 16 - 17 policy meeting

($1 = 6.5370 yuan) (Reporting by Mai Nguyen; editing by Uttaresh.V)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
PT TIMAH TBK 1.62% 1565 End-of-day quote.5.39%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.00% 6.5205 Delayed Quote.0.39%
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Financials
Sales 2021 15 582 B 1,08 B 1,08 B
Net income 2021 288 B 0,02 B 0,02 B
Net Debt 2021 - - -
P/E ratio 2021 40,4x
Yield 2021 -
Capitalization 11 656 B 800 M 804 M
Capi. / Sales 2021 0,75x
Capi. / Sales 2022 0,65x
Nbr of Employees 4 574
Free-Float 35,0%
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 1 437,50 IDR
Last Close Price 1 565,00 IDR
Spread / Highest target 37,4%
Spread / Average Target -8,15%
Spread / Lowest Target -48,9%
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Managers and Directors
NameTitle
Mochtar Riza Pahlevi Tabrani President Director
M. Subuh Wibisono Finance Director
M. Alfan Baharudin President Commissioner
Aidil Yuzar Head-Research & Development Division
Budhi Darmawan Head-Information Technology
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