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LONDON, April 17 (Reuters) - Tin prices soared on Monday to their highest in nearly two months as news of a mining ban in Myanmar, a major producer of the soldering metal, fuelled worries about shortages.
Benchmark tin CMSN3 on the London Metal Exchange was up 9.2% at $27,150 a tonne at 1034 GMT after reaching $27,705, its highest since February 21.
Myanmar's Wa state will suspend mining resources exploration from August, according to an information official from the United Wa State Army.
Myanmar has the world's third largest reserves of tin, according to the U.S. Geological Survey. It accounted for 77% of China's tin ore imports in 2022, China's customs data showed.