PT Timah and the Association of Indonesian Tin Exporters (AETI) have announced different approaches to limiting sales in order to support prices over the last few days. The moves have been in response to the slump in LME prices to a low of $17,445 last week and a call by the Governor of Bangka-Belitung for a minimum 2 month moratorium on sales.

In interviews with Bloomberg on Friday Timah’s President Director Sukrisno and Corporate Secretary Agung Nugroho both stated that the company was halting sales of tin ingot through the ICDX and other tin products, but said that the Governor’s plan was “inappropriate” and could damage the local economy. Nugroho told Reuters on Saturday that it would halt sales until prices recovered to $20,000 – $22,000/t. “We will keep mining and exporting but stop sales.” Timah’s targeted total sales of 24,000-30,000 tonnes last year and 27,000-30,000 tonnes for 2015, he said, adding that long-term contracts accounting for 55 – 60% of sales would be honoured.

Meanwhile the nineteen members of AETI agreed today to limit monthly exports rather than stop them completely in order to push up prices to $19,500/t, according to Bloomberg. Producers will review sales volumes every month, Jabin Sufianto, AETI President, said in an interview. “We will need further discussion to formulate the mechanism and a fair level for our members,” Jabin said in Jakarta after a meeting. “It could be 2,000 tonnes or 4,000 tonnes each month. That will depend on market demand.”