Indonesian tin block prices are sluggish

According to foreign news on January 13, Indonesia's tin block prices are low, and the government strictly controls the export of minerals. It is expected that this year's tin production will bottom out. Even national tin production is lower than the 71,511 tons that were implemented last year.

Recently, the Indonesian Exporters Association of Indonesia (AETI) ** Cha Bin. Jabin Sufianto stated that Minister of Trade Regulation No. 44 of 2014 related to tin exports affected Indonesian tin production. "The tin production will reappear three years ago and the output will not exceed 70,000 tons."

The Indonesian government implemented the 44th Minister of Trade Regulations of 2014 and determined that tin production falls into 4 categories. Category 1 is pure tin with a tin content of at least 99.9%, and category 2 is a non-aggregate with a minimum content of 99.93%. Pure tin, the third category is for soldering, containing up to 99.7% of the solder, the fourth category is non-welding tin alloy, tin content of up to 96%.

Entrepreneurs must hold a pure tin block registered exporter (ET) pass and must be sold in the ** market, rather than pure tin, solder tin and non-weld tin alloy exports, the company must have tin registered exporters Pass, but it does not need to be exported through the market.

This policy has effectively curbed the tin production that has increased significantly in the past three years. “Unfortunately, the price of tin is still difficult to increase. As the volume of tin exports in China decreases, it is supplemented by other countries, such as Myanmar.”

According to the Indonesian Commodity and Derivatives Exchange (BKDI) data, at the beginning of January this year, the tin block sold for $19,930 per ton, which is lower than the price of $23,000 per ton that was implemented last year.

Agung Nugroho, company secretary of Indonesia's state-owned tin mine (Timah), said that production is still the same as last year, ie 25,000 tons to 30,000 tons. “Because of stringent export regulations, we have confidence that the price of tin will improve. We hope to reach $23,000 to $25,000 per ton.”

As of the end of December last year, Indonesia's tin production was only 71,511 tons or 19.1% lower than the 80,000 tons it implemented in 2013. It is expected that in 2014, tin production and exports from state-owned tin companies will reach 27,000 tons.