Tin Export Increases by 32.90%

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  • Gulungan plat timah. ANTARA/HO

    Gulungan plat timah. ANTARA/HO

    TEMPO.CO, Jakarta - Indonesia’s tin export volume increased significantly for the second time after the government revised the regulation on tin in May. However, the price of the commodity continued to decline.

    Data from surveyors PT Sucofindo and PT Surveyor Indonesia revealed that June’s tin export volume reached 8,336.70 tons, increasing by 32.90 percent compared to the previous month that stood at 6,262.75 percent.

    The value of the tine export in June 2015 stood at US$129.53 million, increasing by 27.02 percent compared to that in May 2015 that stood at US$102.16 million. However, the average price in June stood at US$15,565 per ton, lower that the average price in the previous month at US$16,312 per ton.

    Jabin Sufianto, the chairman of the Indonesian Tin Exporters Association said that the increase in tin export in June had been anticipated following a revision of Trade Minister’s Regulation No. 33/M-Dag/PER/5/2015 on the amendment of previous regulation.

    “It’s always like that. The export volume tends to increase following a moratorium. That’s why a national stockpile is necessary if Indonesia wants to be the price leader,” Jabin said.

    According to Jabin, the export volume will decrease after the new regulation is enforced on August 1, 2015. Meanwhile in July, Jabin added, the export volume would be the same with June’s export.