Indonesia’s export slump ripples through tin market
Indonesia's exports of refined tin all but evaporated in January with just 400 metric tonnes shipped abroad by the world's largest exporter, all in the form of solder.
Indonesia’s export slump ripples through the tin market. (Photo: Reuters)
Jakarta (VNA) – Indonesia'sexports of refined tin all but evaporated in January with just 400 metric tonnes shippedabroad by the world's largest exporter, all in the form of solder.
This was the lowest monthly volume since August 2015, whenIndonesia imposed an export regime to exclude illegally mined metal.
Indonesian exports fell by 12% to 75,000 tonnes last year, butthat was still equivalent to around a fifth of global demand.
Ironically, the change in mine permitting process from annual toevery three years is meant to cut red tape and smooth the flow of exports overthe start of every year.
The annual exportapproval process has in the past caused tin export volumes to drop in January.But this year there were no shipments of ingot at all last month and it appearsit will be some time before flows return to normal.
China has been buying somuch Indonesian tin. It imported 3,500 tonnes of Indonesian tin in 2021 butlifted purchases to 24,000 tonnes in 2022. Last year's 24,475 tonnes helped drivetotal Chinese imports to an all-time high of 33,470 tonnes.
China's tin sector is facing both the potential future threat oflower Indonesian exports and the immediate problem of reduced volumes of minedconcentrate from the Man Maw tin mine in neighbouring Myanmar./.
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Indonesia’s export slump ripples through the tin market. (Photo: Reuters)
