Refined tin shipments from Indonesia climbed 9.4% in December from a month earlier after prices gained for a second month, Bloomberg reported. Exports rose to 8,689.2 tonnes from 7,946 tonnes in November, according to data from the trade ministry today. Overseas sales were 15,103 tonnes in December 2011, when a rush of shipments followed two months when many producers withheld sales in response to lower prices at that time.
The data is based on checks on tin prior to shipment carried out by surveying companies as part of the ministry’s export licencing system. The system will change this year, with the minimum purity of metal due to increase from 99.85% to 99.9% from July, while exports of tin solder will also now be subject to control from the start of this month.
The cumulative tonnage of tin checked for shipment in 2012 amounted to 98,817 tonnes up by 2.9% compared to 2011, despite reported major production cuts by PT Timah and PT Koba Tin. This implies that activity by private smelters buying from small-scale miners has risen recently, stimulated by rising prices. Three independent smelters – PT Bukit Timah, PT Refined Bangka Tin and PT Tinindo Inter Nusa – now have LME registered brands.
