Indonesian tin exports increased to 10,318 tonnes in December, recovering strongly from an extremely low 465 tonnes in November, according to preliminary trade department data based on pre-shipment inspections by surveying companies. The annual 2014 tonnage, based on ITRI’s records, amounts to 75, 925 tonnes, down by 17% from the preliminary 2013 total and by 14% relative to a final 2013 official customs figure of 88,443 tonnes.
ITRI View: The big swings in trade in recent months mainly reflect the impact of the new export regulation which came into effect on 1 November which has effectively halted business in tin in non-ingot forms such as solder and billets. Since 1 November less than 10 tonnes of solder and other tin products has been identified in the surveyors’ figures, compared to previous peak levels of over 2,000 tonnes per month. Now nearly all tin trade is being funnelled through the ICDX, which saw turnover rise sharply to 8,055 tonnes last month. Activity on the exchange and the preliminary trade figures undoubtedly include a big “catch up” effect after a period of particularly high uncertainty in November, so it is still very difficult to judge what will be the new normal monthly level under the new regime.
