AUSTRALIA

U.S. Tin Stockpiles Raise Concern: Australia is to lead a delegation of tin-producing countries to the United States to express concern about Washington’s stockpile sales onto an already depressed market. The Assn. of Tin Producing Countries (ATPC) also announced a 9.1% cut in the permissible export tonnage for members in 1992 from the 1991 levels. Australia Resources Minister Alan Griffiths, elected chairman at the ATPC Conference of Ministers here this week, will lead the delegation early next year. The conference agreed that an ATPC ministerial delegation “will urge (the U.S.) to suspend sales until market conditions improve or at least limit sales to levels agreed under the Memorandum of Understanding with ASEAN (Association of Southeast Asian Nations) countries.” The statement said stocks had remained high and the tin market was likely to continue to face the threat of oversupply during 1992.