Author: Paul Ploumis 07 May 2015 Last updated at 06:57:51 GMT
JAKARTA (Scrap Monster): The preliminary data released by the Indonesian Trade Ministry shows that Tin exports from the country declined during the month of April this year. The exports during the month totaled 5,071 tonnes, 2.8% down when compared with the export levels a year ago. The above data is based on the figures reported by surveying companies as per pre-shipment checks carried out by them.
Meanwhile, Bangka-Belitung Governor Rustam Effendi has further lowered the export targets from previously agreed 4,500 tpm to 4,000 tpm starting May this year. Earlier, PT Timah and Association of Indonesian Tin Exporters (AETI) members companies had agreed to limit sales to 2,500 tpm and 2,000 tpm respectively effective April this year.
According to the new export restrictions, PT Timah will cut down their exports to a maximum of 1,500 tonnes, whereas the balance 2,500 tonnes will be split among private smelter companies. The monthly export limit will be further reviewed at the end of every month to decide on any revisions if necessary. Effendi clarified that the export curbs will continue until the tin prices recover to desired levels. Meantime, Jabin Sufianto, Chairman, AETI announced that the new sales limit will be discussed with the members.
The exports in April have ended higher when matched with the original forecast. All the sales consisted of tin ingots. The exports of solder and other tin products have declined sharply following the government regulations announced in November last year.