Tin Exports From Indonesia Rise 9.4% in December as Prices Climb
Refined tin shipments from Indonesia, the largest exporter, climbed 9.4 percent in December from a month earlier after prices gained for a second month.
Exports rose to 8,689.2 metric tons from 7,946 tons in November, according to data from the Trade Ministry today. Overseas sales were 15,103 tons in December 2011.
Tin, the best performer among six main industrial metals in London last year, has gained about 44 percent since July when the metal slumped to the lowest level since 2010. Higher supplies from Indonesia may halt the rally, potentially easing revenue at Malaysia Smelting Corp. and PT Timah (TINS), the world’s second and third-largest producers.
The country shipped the metal used in soldering and packaging to 13 countries last month, with Singapore taking about 66 percent of exports, ministry data showed. Other buyers including Malaysia, China, Japan and Germany.
Exports gained 3 percent to 98,817 tons in 2012, according to data compiled by Bloomberg. Indonesia accounts for about 40 percent of global trade, according to ITRI, a St. Albans, England-based researcher.
Tin for delivery in three months rose 0.4 percent to $24,750 a ton on the London Metal Exchange at 5:50 Singapore time. Futures rose 22 percent last year.
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