The tonnage of tin metal checked before export for Indonesia’s trade ministry jumped to 8,767 tonnes in October, up 24.2% on the same month of 2009. This was the second highest monthly total reported in 2010, just below the 8,870 tonnes reported in July. Cumulative volume in the ten months to October is now 75,778 tonnes, down 8.3% on the corresponding figure for last year.
Perhaps the key indicator of rising activity in the Indonesian tin sector was the high proportion of companies holding export licences represented in the October figures. "There were 26 smelters that exported the metal in October, up from 20 in the previous month," an official at the trade ministry told Reuters. 33 companies hold licences, although this total includes a number of private smelters which have temporarily or permanently closed.
“Exporters increased shipments to take benefit from higher prices,” Djunaedi, head of mining exports at the trade ministry, told Bloomberg. The metal was shipped to 11 countries, including Singapore, Malaysia and Japan. Shipments to Singapore were 6,995 tonnes, or 80% of the total, Djunaedi said.
