November 8, 2018 / 7:22 AM / 12 days ago

UPDATE 2-Indonesia tin exports slump on after bourse restricts trading

 (Adds quotes from ICDX)
    By Bernadette Christina Munthe
    JAKARTA, Nov 8 (Reuters) - Indonesia's refined tin exports
in October fell 42 percent from a month earlier to 5,109 tonnes,
trade ministry data showed on Thursday, following the
introduction of restrictions on some sales last month by the
country's only tin-trading bourse.
    Exports from Indonesia, the world's biggest tin exporter,
were down 33 percent from the same month last year, the data
showed.
    The Indonesia Commodity & Derivatives Exchange (ICDX)
suspended the trading in mid-October of tin ingots and tin ore
whose origin was verified by state-owned metals assessor PT
Surveyor Indonesia following a police report relating to the
sale of minerals from sources without permits.
    PT Surveyor verified nearly 70 percent of the tin that
passed through the bourse between January and October, the ICDX
told Reuters last month.
    ICDX spokeswoman Omega Wati said on Thursday the suspension
was still in place, and smelters were holding independent talks
with another surveyor, Sucofindo, to provide tin verification
services.
    ICDX was "waiting for certainty from the police," Wati said
referring to the how long the restrictions would remain in
place. "The export stoppage will continue until there is that
clarity."
    As of Thursday, only 74 lots of the most active
 tin contract had been traded since the
restrictions were imposed on Oct. 16, bourse data shows,
although most of the trades occurred on a single day, and there
were no trades during many sessions. A lot for the contract is
equal to 5 tonnes of tin.
    "There's been no transactions yet in November," Wati told
Reuters by text message.
    This compares to an average of 46 lots a day from Aug. 1 to
Oct. 15.
    Indonesia's total shipments of refined tin, which is largely
used in electronics, during the first 10 months of the year
still rose 7.5 percent from a year earlier to 68,005 tonnes.
    In October, Singapore was Indonesia's biggest refined tin
customer, taking 2,153 tonnes, followed by Japan with 910 tonnes
and India with 450 tonnes.
    
 Month       Exports (tonnes)  M/M pct change  Y/Y pct change
 2018                                          
 October             5,109.23             -42             -33
 September           8,854.30              10              18
 August              8,082.46              23              25
 July                6,575.80              17               6
 June                5,608.82             -55              40
 May                12,493.35             205             132
 April               4,097.56             -25             -36
 March               5,469.25             -24             -11
 February            7,207.27              60              47
 January             4,507.53             -36             -35
                                                             
 2017                                                        
 December            7,056.41             -11             +17
 November            7,924.69              +4             +62
 October             7,629.23              +2             +17
 September           7,503.39             +16              -3
 August              6,480.78              +4             +20
 July                6,205.87             +55             +87
 June                4,004.86             -42             -48
 May                 6,989.43             +10             +30
 April               6,377.59              +4              -8
 March               6,142.55             +25            +126
 February            4,911.47             -29              +9
 January             6,963.71             +15            +180
                                                             
 2016                                                        
 December            6,050.82              24               4
 November            4,892.27             -25              86
 October             6,530.18             -16             -32
 September           7,743.87              44              21
 August              5,378.57              62             n/a
 July                3,313.05             -57             -48
 June                7,651.84              42              -8
 May                 5,377.89             -22             -14
 April               6,910.78             154              36
 March               2,718.54             -40             -61
 February            4,505.46              81             -25
 January             2,485.92             -57             -63
                                                             
 2017 TOTAL         78,189.97                             +23
 2016 TOTAL         63,559.19                            -9.4
 2015 TOTAL         70,153.65                            -7.6
 
 (Writing by Fergus Jensen; editing by Amrutha Gayathri and
Richard Pullin)
  
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