After a very weak first quarter, Indonesian tin shipments recovered strongly in April, according to preliminary figures released by the trade ministry today. Last month’s exports amounted to 6,910.78 tonnes, up 36% compared to April 2015, based on pre-shipment checks made by the two surveyor companies authorised by the ministry. This was closely in line with last month’s tin sales volume on the ICDX of 7,190 tonnes.
The twelve month rolling total of shipments up to April was just over 62,000 tonnes, having been dragged down by stricter export regulations since last August and extreme monsoon weather conditions in the first quarter of this year. The rebound last month reflects catch-up sales by some major producers belatedly receiving new export permits and are also rumoured to include liquidation of stocks by private smelters which have ceased production.
Speaking at ITRI’s International Tin Conference in Lima last week, Jabin Sufianto, President of the Association of Indonesian Tin Exporters (AETI), forecast that annual exports in 2016 will be around 66,000 tonnes.