Data released by the Indonesian trade ministry today shows that 8,661 tonnes of tin was checked prior to export by surveyors in June, up 59% on the same month of last year, but lower than the 9,873 tonnes inspected in May. The cumulative tonnage in January-June amounted to 50,575 tonnes, up 9.2% from 46,322 tonnes in the first half last year.
The relatively high level of exports in recent months is likely to be in response to the fund-driven rise in LME prices in the second quarter, plus the granting of five more export licences by the ministry in April-June. One further licence was issued earlier this month.
