Preliminary trade ministry data on the volume of tin metal checked prior to export from Indonesia indicated a very sharp fall in shipments last month. The tonnage inspected by surveying companies working for the ministry was 5,646 tonnes, 34% lower than in August 2011. The cumulative volume in the first eight months of this year amounted to 61,259 tonnes, down by 9.9% relative to January-August last year.
The rolling 12-month average tonnage of tin checked for export calculated by ITRI dropped below 90,000 tonnes in August for the first time since May 2009, when the industry had been hard hit by the global financial crisis. The low total in the latest month reflects a temporary cessation of spot sales by PT Timah and the temporary closure of many independent smelters due to religious holidays and low prices.Many of the private smelters have now resumed operations and the president of the Indonesian Tin Association told Bloomberg that the sector was now operating at about 70% of capacity.
