2014 Indonesia's tin exports fell eight-year low in 2015 will be lower and lower
Indonesian Trade Ministry data released Thursday showed, in 2014 the country's tin exports has fallen to its lowest level since at least eight years, so the front of the world's largest supplier of tin to tighten export rules.
Indonesian Trade Ministry released data show that in 2014 the Indonesian export 75,925 tons of tin fell sharply by 17% compared with 2013.
This means that Indonesia's tin exports last year, has slipped to its lowest level since 2007.
The data also show that last December, the country's tin exports jumped sharply increased to 10,318 tonnes, up from 465 tons in November.
Indonesia to tighten export controls tin rules in 2013 to enhance the high value-added finished products of tin export volume and challenge the authority of the LME tin pricing.
Meanwhile, Indonesia's tin smelting capacity are also compressed tin exports in order to prevent further decline in the price of tin.
In addition, Indonesia also perform more stringent quality requirements tin exports since 2014 for 11 years.
International tin prices fell sharply by 13% in 2014, mainly because the market fears of a global economic
slowdown dragged down demand.
Peter Kettle ITRI's research director, said, "Overall, the Indonesian tin producers consider tin exports in 2015 will be lower than 2014 levels."
"But in December last year, really hard to explain why the Indonesian tin exports sudden surge."
Since the beginning, the international tin prices rose about 1 percent.
Governor of Indonesia's Bangka Belitung province Rustam Effendi said it plans to hold talks on January 20 and smelters, to discuss plans to suspend tin exports.
Bangka Belitung Province, Indonesia tin main production areas.
"We will discuss the tin price and market conditions, and the measures taken to raise prices."
ITRI released data show that in 2013, Indonesia's tin production accounts (except China) 48% of global output.
Indonesia has 47 smelters, including 24 members of the Indonesia Commodity and Derivatives Exchange, and it is the country's only government permission before a net tin export trade exchange.
