Author: Paul Ploumis16 Jun 2014 Last updated at 08:52:17 GMT
JAKARTA (Scrap Monster): Indonesian Govt planned to reverse the export rules that would made all the tin solder export to trade on a local exchange from next year January onwards. This is for promoting the shipments by the world’s biggest material exporter.
According to the regulation taken last August, in order to stop the illegal mining and to give Indonesia the main control over the prices, all the tin ingot shipment have to trade through a local platform before gets exported. In this tin solder as excluded until 2015 January.
After the rule, the exports of tin have plunged. The monthly export of tin solder has spiked as some of the companies have to avoid exportation through local exchange. Export director for mining and industrial products, Thamrin Latuconsina said that according to the amendment of the tin export regulations, the tin solders would be excluded from the requirement to be traded through local commodity exchange as tin solder was not taken as a raw material, but it was a finished product,
He said that the new amendment would probably be approved before the presidential election, scheduled on July 9. In the month of May, the country exported about 11.540 tonnes of tin ingots, 775 tonnes of refined tin in other forms and 464 tonnes of solder. Bachrul Chairi, Director General of foreign trade said that the new tin regulations would also create changes to the specifications and standards for four kinds of exports- pure and non ingot, ingot, solder and tin in other forms.