Indonesian tin exports fell to the lowest in more than eight years in 2014, according to a Bloomberg report, after the country tightened rules to restrict exports and shore up prices.
Tin shipments from the world’s biggest exporter fell by 17 percent to 75,925 metric tonnes last year from 91,613 tonnes in 2013, according to Trade Ministry data, cited by Bloomberg. December exports surged to 10,318 tonnes from 465 tonnes in November, it said.
Reuters could not immediately confirm the December data, but a weaker figure had been widely anticipated after Indonesia’s government made changes to tin export rules last year, in an effort to close loopholes, halt illegal mining and gain greater control over prices.
Southeast Asia’s biggest economy had been expected to ship about 80,000 tonnes this year but, after November exports slumped to the lowest since April 2007, this was seen falling to 75,000 tonnes, Jabin Sufianto, president of the Indonesian Association of Tin Exporters told Reuters in December.
Zhejiang Yaang Pipe Industry Co., Limited