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Indonesian Tin exports up 18pct in July

According to preliminary export data released by the country’s Trade Ministry, Indonesia’s Tin exports jumped 18% over the previous year during July this year. Based on pre shipment tonnage data, the country’s exports totaled 7,645.20 tonnes, 18% higher when compared with the exports during July 2013.

Meanwhile, the Ministry also announced revision to the June ’14 export figures published earlier. The June exports earlier reported as 12,377 tonnes has been massively revised to 7,016 tonnes. The Ministry dide not provide any explanation for this huge downward revision of export figure for the month of June this year.

The Indonesian share in Japanese market has fallen drastically during the H1 of 2014. The exports from Indonesia contribute to 37% of the total Tin imports by Japan during January to June this year.

Earlier, the ITRI had stated that the originally reported June ’14 export figures were shockingly high, as they do not correspond with volumes traded on the ICDX. The revised figures look more plausible. The revised tin export regulations imposing tighter controls on non ingot products are due to take effect from November.

Hence exports from the country are expected to remain robust during the months of September and October. However, slump is activity during Ramadan may keep the August exports subdued.

Source – Scrap Monster

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