After surging to very high levels of around 10,000 tonnes per month in May and June, Indonesian refined tin exports dropped by almost 80% to only 2,275 tonnes in July, according to Trade Ministry data released on August 3.
A Reuters report quoted a ministry official as saying: “Export decreased a lot because police at Tanjung Priok Port held up the ships transporting tin without any clear reasons.” The report also quoted a source from the Association of Indonesia’s Tin Industry who said exporters were wary of exporting tin abroad since they had to join a tin consortium in order to do so, resulting in higher charges.
Total tin exports since February, when a new export regulation system came into place, now amount to 33,706 tonnes, of which PT Timah accounts for 23,853 tonnes, PT Koba Tin 1,805 tonnes and four independent smelters the balance of 8,048 tonnes.
