SHANGHAI, Feb 10 (SMM) – According to the SMM database, since 2019, China's import of Indonesian refined tin has increased significantly. The total import volume in 2020 was about 14,600 mt, a year-on-year increase of 555.32%; 2021 saw a year-on-year decrease of 72.47%; 2022 registered a year-on-year increase of 600.75%.
On May 31, 2022, the amount of refined tin imported from Indonesia reached the highest level since 2017, which was driven by the opening of the import profit window that attracted a large number of traders to participate. Customs clearance of cargoes that were delayed by pandemic also drove up imports.
In June, the volume of China's imports of refined tin from Indonesia began to fluctuate downwards, and as of December 31, it had decreased by 58.71% from the high level in May.
According to news, on November 28, 2022, the Indonesian tin industry organization asked relevant departments to consider gradually implementing the planned tin export ban to so as to develop domestic processing plants. In October 2022, Indonesia said that it planned to ban the export of refined tin to attract investment and further process refined tin in the country. A timetable for implementing the ban has not yet been set.
