HC Deb 29 October 1985 vol 84 cc459-60W
Mr. Harris

asked the Secretary of State for Trade and Industry if he will make a statement on the recent suspension of tin trading on the London metal exchange.

Mr. Brittan

Trading of tin metal was suspended on the London metal exchange last Thursday following the inability of the buffer stock manager of the International Tin Council to support the market. The decision to cease buffer stock operations was taken solely on the initiative of the executive chairman of the Tin Council in accordance with the powers vested in him under the Sixth International Tin Agreement, of which the United Kingdom is a consumer member.

The Government will be participating in a special session of the International Tin Council convened on Tuesday 29 October to consider the position following the suspension of buffer stock operations. Officials are discussing the matter with the London metal exchange.