Indonesia refined tin exports jump 35% in February
Exports of refined Tin from Indonesia jumped 35% Year-on-Year in February, as per the latest official data. Indonesia is the largest tin exporter in the world.
February exports were recorded at 83224.73 tonnes, up from 6181.42 tonnes from the same month last year. When compared to January 2012 exports of 5380.43 tonnes, Feb exports were up 55%.
At the London Metal Exchange (LME) tin prices are currently trading around $22500/tonne, up from just above $19000/tonne during the start of the year. However, the price rise could be unsustainable due to soft Chinese imports.
A Barclay report states “The implication is that (Chinese) imports will soften in Q1, lowering the call on LME stocks. Providing some balance, however, has been the impact of adverse weather condition in Indonesia, which saw January exports fall to 5.3Kt from 15.1Kt in December. Such weather conditions may impede mining activity until April, which may well keep the tin market balanced until Chinese domestic demand starts to improve”
Last year, Indonesia’s tin exporters had imposed a ban on exports of tin in order to push up prices from the depressed level. They, however, restarted exports once it became clear that the action had failed to raise prices.
- LME Tin cash prices may average at $26 000 t in 2014: Barclays - April 24th, 2013
- Bolivia’s Colquiri mine to restart operation after historic agreement - April 23rd, 2013
- SEC sets date for long-awaited vote on 'conflict minerals' rules - April 23rd, 2013
- Indonesia’s tin mining brings more problems than wealth: report - April 20th, 2013
- Rival tin miners in Bolivia fight with dynamite - April 20th, 2013
- The toll from mining tin - April 20th, 2013
- Asteroid mining to dominate the industry: experts - April 20th, 2013
- No more queuing – LME embarks on warehouse review - April 20th, 2013