Indonesian refined tin shipments in November were 86% higher than in the same month of 2008, Reuters reports. The data is based on tin surveyed prior to shipment as part of the trade ministry’s export licencing system. Shipments in the final quarter of last year were very low, as all the main independent smelters stopped exporting for more than three months as the global financial crisis caused a slump in tin prices.
Indonesia exported an estimated 8,166 tonnes of refined tin in November, up from 4,381 tonnes in the same month a year ago, trade ministry data showed. November’s tin exports also rose 16% from 7,059 tonnes in October. "Demand for tin has been improving from a year ago with some new buyers such as the United States and Turkey emerging," said an official at the trade ministry, who declined to be quoted by name.
The ministry data showed that 21 smelters exported metal in November, compared to only four in the same month last year. Cumulative tonnages for the 11 months of January-November rose 7.6% to 90,779 tonnes, from 84,356 tonnes in the same period last year.
