Preliminary data from Indonesia’s trade ministry showed that tin metal sales declined sharply in September, ahead of the halt in exports called by producers from 1 October. The volume of tin checked prior to shipment last month was 5,233 tonnes, down 24% year-on-year on the corresponding figure for September 2010 and 39% lower than in the previous month. The monthly total was the lowest recorded since December 2008, a time when producers were also holding back sales in response to rapidly falling prices.
Toto Rusbianto, head of mining exports at the Ministry of Trade, told Bloomberg that the September decline in exports “was because of the market condition, where demand was slowing down and prices were low.” Cumulative tonnage checked prior to export in January-September rose by 9.3% year-on-year to 73,223 tonnes.
