Preliminary trade data released by Indonesia’s trade ministry on 19 August showed a sharp fall in volumes as new regulations came into place. The tonnage of tin checked prior to shipment in July slipped to 6,466 tonnes, 22% lower than in July 2012 and 42% down on the exceptionally high level of the previous month. The July figure was the lowest monthly total since August 2012, when a low point in LME prices coincided with mine and smelter shut-downs for religious holidays. However ITRI’s records show that the cumulative tonnage in the first seven months of this year rose to 61,477 tonnes, up by 10.5% compared to the same period of 2012.
The July figure reflects the fact that many producers rushed to export tin before new tin quality regulations came into force on 1 July. While purity specifications have subsequently been relaxed, new uncertainty about exports in the coming months has been created by the requirement that tin should be traded through an Indonesian market from 30 August.
