Provisional data released by Indonesia’s trade ministry today show that tin exports jumped to 13,562 tonnes in December, up by 161% on the previous month and by 56% compared to December 2012. The report is based on checks carried out by surveying companies prior to export on behalf of the ministry. The December figure brings total tonnage checked last year to 91,613 tonnes, down by 7% compared to 2012.
Over the last four months all tin ingot exported has been required to be traded via the Indonesia Commodity and Derivatives Exchange (ICDX). The volume traded on ICDX in December was a record 8,245 tonnes. The export total also includes several thousand tonnes of tin traded on the exchange in November but shipped in December plus 2,113 tonnes of solder. Solder and other tin products are exempt from the exchange-trading regulation until January 2015.
The high December figure – the second highest monthly total since the trade ministry export licencing scheme was first introduced in 2007 – reflects catch-up sales by producers that were out of the market between August and October as the new export regulation took effect. Volumes can be expected to drop in the next few months as sales come back more into line with current production, which will be reduced by monsoon season bad weather.