Refined tin shipments from Indonesia climbed to a five-month high in March as Malaysia and Singapore increased purchases from the world’s largest exporter.
Exports, including tin ingots and solder, jumped 11.3 percent to 9,295.7 metric tons last month from February, data from the Trade Ministry showed today. That’s the largest shipment since October when sales reached 11,048.4 tons, and is 8 percent higher than a year earlier, according to data compiled by Bloomberg.
Rising supplies may weigh on the price of the metal used in soldering and packaging, which has fallen for two straight months in London. The metal, which climbed 22 percent last year, traded 0.3 percent higher at $22,999 a ton on the London Metal Exchange at 1:23 p.m. Jakarta time.
Indonesia shipped tin to 11 countries last month. Shipments to Singapore, the biggest buyer, rose 14.5 percent to 6,539.2 tons and sales to Malaysia gained 9 percent to 1,059.5 tons, the data showed. Other destinations include Thailand and China. Exports in the first quarter jumped 20 percent to 26,805 tons from year earlier, the data showed.