JAKARTA, Sept 1 (Reuters) - Indonesia's largest tin producer Timah produced 8,100 metric tons of tin metal in the first half of 2023, 8% lower than a year earlier, while its selling prices were hit by weak global demand, the company said on Friday.
The company sold 8,307 tons of tin metal in the January-June period, down 16% from a year earlier with an average selling price of $26,828 per ton, a 35% slump from their average price last year.
"The average selling price conditions and weather conditions have not yet been supportive in the first half of 2023, causing the drop in tin production and eroding the company's earnings," Timah's finance director Fina Eliani said in a statement. Timah reported a 16.3 billion rupiah ($1.07 million) profit for the first half this year, down from 1.1 trillion rupiah a year earlier.
($1 = 15,255.0000 rupiah) (Reporting by Fransiska Nangoy; Editing by Kanupriya Kapoor)
