Indonesian refined tin exports rose sharply in May-June, according to trade data published by Reuters and Bloomberg this morning.
Exports in May and June were 9,961 tonnes and 10,684 tonnes respectively, while cumulative shipments from February 14 to end-June amounted to 31,431 tonnes.
The surge mainly reflects the release of stocks by PT Koba Tin and the country’s three largest independent smelters – PT Bangka Putra Karya, CV DS Jaya Abadi, and CV Donna Kembara – which had been held up by legal actions against the four companies and the introduction of new export licensing rules.
A Trade Ministry official told Reuters that only five companies – the state-controlled PT Timah and the four mentioned above – have been exporting so far this year, although another nine smelters now have export licences
