On the London Metal Exchange, the price of tin increased by $ 0.16 per kilogram, and reached $ 23.27 in early 2015. Nickel also added $ 0.08 per kg, reaching about $ 17. Industrial demand is expected to increase in the spring for tin and nickel.
The rise in prices is associated with a ban in Indonesia on the export of raw metals in order to develop production with higher added value. Indonesian tin exports have been low over the past year, but jumped sharply in December. According to statistics released by the Indonesian Ministry of Commerce (ITRI), the country's tin exports totaled 10,318 tons in December 2014, an increase of more than 2,000 percent from the previous month. Last November, the country exported only 465 tons of tin in various forms.
According to industry experts, the huge jump in export change is primarily due to the uncertainty about exports caused by decree No. 44/2014, which came into force on November 1, tightening the restriction on the sale of tin products without ingots. The message literally baffled the receipt of off-bullion trade declarations.
According to ITRI, Indonesia's cumulative tin exports for the entire 2014 were 75,925 tons, down nearly 17 percent from the 2013 total. Tin exports during 2014 were the lowest in at least eight years.
Indonesian tin exports will continue to decline
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Azovpromstal® 12 January 2015 г. 10:24 |
