Three Asian tin nations forming producers' pact

Malaysia, Thailand, and Indonesia, which together produce more than two-thirds of the world's tin, formally announced they would form a producers' pact to protect their interests.

A joint statement released in the capitals of all three Southeast Asian nations said that other producing countries would be invited to join the association. The decision, made as tin prices were at $10,920 a metric ton, near the lowest levels in five years, came on the eve of a crucial United Nations meeting with consumers in Geneva on the future of the sixth International Tin Agreement.