By Paul Ploumis 10 Aug 2015 Last updated at 06:11:44 GMT
JAKARTA (Scrap Monster): The preliminary data released by the Indonesian Trade Ministry shows that Tin exports from the country dropped during the month of July this year.
The exports during the month totaled 6,329.92 tonnes, falling sharply by over 24% from 8,336.70 tonnes exported during June. The above data is based on the pre-shipment checks carried out by surveying companies. The export figures for July ’15 are surprisingly on the higher side, since the reported sales through ICDX during the month has totaled only 4,220 tonnes.
Tin ingot exports by the country totaled 6,315.14 tonnes during the month, whereas exports of tin solder amounted to 14.77 tonnes. When matched with the exports during a year before, the Indonesian tin exports were up down 17%. The cumulative exports during the first seven months of the year totaled 44,587 tonnes.
The Ministry’s latest version of tin export regulations have already been in effect since August this year. The new licensing regulations are expected to keep the exports under control. No sale has been reported through ICDX during the second half of July. The volumes in August are also expected to remain low.
Under the new regulation, tin smelters in the country are required to obtain fresh "clean and clear" certification from the Ministry by confirming that the tin ores consumed by them originate from authorized mines. According to sources, many of the Indonesian smelters do not have new licenses yet. This may affect the tin shipments out of the country for at least next 1-2 months.