By Anil Mathews (ScrapMonster Author)
December 09, 2015 05:54:41 AM
JAKARTA (Scrap Monster): The preliminary data released by the Indonesian Trade Ministry shows that Tin exports from the country dropped during the month of November this year.
The exports during the month totaled 2,636.78 tonnes, falling sharply by over 73% from 9,633.10 tonnes exported during October. The above data is based on the pre-shipment checks carried out by surveying companies. The export figures for November include small quantities of solder and other tin products as well as tin ingots.
The year-to-date tin shipments from January to November totaled 64,349 tonnes, marginally down by nearly 2% when compared with the previous year. It must be noted that exports had soared in December last year to 10,300 tonnes. However, the exports during Dec ’15 are unlikely to total even half of last year’s total. Based on this projection, the yearly exports in 2015 are likely to drop below 70,000 tonnes, for the first time since 2003.
The tighter tin export regulations imposed by the Ministry coupled with falling prices have led to drop in tin exports over the past three years. The tin supply from the country has dropped by nearly 30% during this period. According to customs statistics, the refined tin exports which totaled 101,237 tonnes in 2012 dropped sharply to 88,443 tonnes in 2013. The exports dropped further in 2013 to 88,443 tonnes.
The latest export regulation and licensing requirements which came into effect in August this year are likely to keep the exports subdued in 2016. 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.