§ Sir W. Smithersasked the Minister of Supply the amount of tin held by his Department and its purchase price; and, now that the London Metal Exchange is reopened, if he will offer Government holdings for sale.
§ Mr. G. R. Strauss:My Department at present holds about 31,000 tons of tin. Before 18th September the metal was bought at the world price of £554 a ton from Malaya and £559 a ton in the United Kingdom. Metal bought since that date will be paid for at a price adjusted to meet the revaluation of sterling. Stocks will be released at a rate which aims at ensuring reasonable price stability and the final disposal of any unsold stocks will be considered when the market has had time to settle down.