Preliminary data released by Indonesia’s trade ministry today put June exports of refined tin at 7,652 tonnes, down by 8% compared to June 2015 but up by 42% compared to May. This is the biggest monthly total so far in 2016 and is also significantly higher than reported sales through the ICDX last month. June ICDX turnover was 1,256 lots, or 6,280 tonnes. The trade industry figures are based on pre-shipment checks carried out by surveyor companies and may include small quantities of solder and tin products.
The preliminary total for first half exports amounts to 29,650 tonnes, down by 25% compared to H1 2015. The fall reflects lower prices, flooding in Q1, stricter regulation and closures of many private smelters since last year. The energy and mineral resources ministry reported in May that only 29 out of 47 smelters surveyed in a smelter audit programme were still operational. Most observers predict that Indonesian production this year will be between 60,000 and 65,000 tonnes.