The tonnage of tin checked prior to export in February rose 35% year-on-year to 8,325 tonnes, according to trade ministry data released on Monday. The rise followed a very low January figure and occurred despite usual poor monsoon weather.
“Refined tin exports increased in February mainly because the price was relatively better (in February) than previously,” Toto Rusbianto, head of the mining export division at the trade ministry, told Reuters. “It is also estimated that smelters needed a better cash-flow or liquidity in February, so that they exported their stuff to get cash.”
The seven largest importers in February were Singapore (5,445 tonnes), Malaysia (1,178 tonnes), China (565 tonnes) Japan (272 tonnes), the Netherlands (254 tonnes), South Korea (232 tonnes) and Taiwan (145 tonnes), Rusbianto said. According to ITRI’s records, the twelve-month moving average of tonnage checked amounted to 96,158 tonnes up to end-February.
