May 09, 2017 02:00:35 AM
SEATTLE (ITRI.CO.UK): Indonesian tin exports in April amounted to 6,378 tonnes, 3.8% high than in the previous month but down -7.7% according to preliminary figures released by the trade ministry today.
The latest figures are based on pre-shipment checks made by surveying companies and include 182 tonnes of tin in solder and others forms, refined metal ingots represent 97% of the figure. The 6,196 tonnes of refined tin exports included in the total is broadly consistent with the April trading volume on the ICDX, through which all refined tin export sales must be conducted, of 6,230 tonnes.
ITRI View: Monthly exports in 2017 continue to correlate quite well with changes in the average LME tin price. It is understood that a number of privately held tin smelters in the country are currently operating on tight margins and remain sensitive to tin price fluctuations. It is likely that exports will be maintained at a similar level in May, although local production is likely to be impacted in June due to the month of fasting in observance of Ramadan.
Courtesy: www. itri.co.uk
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