Fifth International Tin Agreement
Summary of Fifth International Tin Agreement
An international commodity agreement among major tin-producing and consuming nations. Principal features of the agreement are (1) establishment of the International Tin Council in which votes are divided equally among producing and consuming nations; the council establishes agreed ceiling and floor prices for the metal; (2) maintenance of a reserve stock of at least 20,000 metric tons of tin that may be sold off as prices approach the ceiling, or added to as prices approach the floor, to ensure stable prices; (3) imposition of export controls by producers after a threshold of falling prices has been reached; and (4) requirement that members consult with the council before selling from national stocks. The United States is a signatory to this agreement.
(Main Author: William J. Miller)