Indonesian tin exports fell to multi-year lows

Indonesian tin exports in November 2014 fell to their lowest level since April 2007. According to statistics released by Indonesia's Ministry of Commerce, the country's tin exports totaled only 464.98 tons, a sharp drop of 93 percent from the previous month. In October this year, the country exported 6,989 tons of tin in various forms.

The country shipped 289.84 tons of refined tin to Singapore and 175.13 tons to India in November this year. Shipments of other forms of tin fell to zero during the month from 6,989 tonnes of refined tin, solder and other forms of tin shipped in the previous month to countries such as the Netherlands, India, Japan, Singapore, the United States and Taiwan.

According to industry experts, the huge drop in exports is primarily due to the new Export Ordinance No. 44/2014, which came into force on November 1st, limiting the sale of tin products outside of bullion. The data shows that off-bullion tin accounted for over 30 percent of total sales during the 10-month period this year.

Rigorous inspection and control of cargo and mines by the police and customs authorities discourage illegal mining and export. Indonesia's total tin exports for 11 months of this year amounted to 65,600 tons, which is almost 16 percent lower compared to the same period last year. Based on the trend, Indonesian tin exports may reach their lowest annual exports since 2003.