Indonesia's refined tin exports soar 23 per cent and try to prop up tin prices

SMM: Indonesia's refined tin exports, the world's largest exporter of tin, surged to its highest level in four years in 2017 as tin prices remain attractive to local producers.

Tin performed the worst of LME's six major contracts last year, but it remains attractive to Indonesian smelters, with futures averaging about $20,000 a tonne, up from $17900 a tonne a year earlier.

Indonesia's tin exports have rebounded as producers remain profitable, and the trend is likely to continue into 2018. Shipments fell 11 per cent in November from the previous month to 7056 tonnes, according to government data. Of these, Singapore is the largest destination, accounting for about 40 per cent of total goods.

Indonesia, Southeast Asia's largest economy, is trying to prop up tin prices by curbing production, overseas sales and forcing shipping to trade locally.

(SMM) Yan Cedar Translation of Shanghai Nonferrous Metals Network

The text reads as follows:

World's Top Shipper Sells Most Tin Since'13 as Smelters Cash In

Refined tin shipments from Indonesia, the world's largest exporter, surged in 2017 to the highest level in four years as prices proved attractive for local producers.

Exports climbed more than 20 percent to 78190 metric tons from a year earlier, according to data from the Trade Ministry on Tuesday. Shipments in 2016 were the lowest since at least 2007 after output that year declined, according to ministry data compiled by Bloomberg.