According to the press service, the experts continued decline in exports from Indonesia's refined tin was recorded. This country has long been the largest supplier of metal and therefore quite noticeable phenomenon is the decline in exports in July, at forty-two per cent compared with the previous month, which was the biggest indicator of the two years of falling.
Indonesia have long been inherent in the manifestation of this negative phenomenon for the world market of non-ferrous metals such as exports decline, but in July, the indicators have reached such a low level that has not been observed for the past eighteen months past.
As shown by the statistics of the Ministry of Trade of Indonesia, tin for export in the form of ingots, as well as in the form of solder, was exported in the amount of six and a half thousand tons in July compared with the eleven thousand in the previous month, that is, the volume of supply of this precious metal abroad decreased by twenty-two per cent compared with July last year.
This is all due to several reasons. The first can be called a significant tightening of the rules that determine the purity of the metal exported. According to the new rules of pure tin content in products intended for export from the country should be much higher than previously allowed. Prior to the introduction of new rules, tin share of exported products should be 99.85 percent, and now should be not less than 99.9 percent. The Indonesian authorities do not focus on the content of cadmium and other metals views, as well as considerably softened limit the content of a metal such as lead.
In addition, as reported by JOGMEC, there is a second reason for the sharp decline in exports. This reason is called a significant lack of raw materials, which have the ability to produce on land. Thus, the country remains the only chance — to mine tin ore directly from the ocean floor. And, it is worth noting that the necessary technology and sufficient funding is available only in two Indonesian companies — PT Koba Tin and PT Timah.
In general, the situation is such that about fifty-five thousand tons of tin were exported in the first half of this year, which showed a much lower results than previously planned. In addition, due to the holidays, which was in August, exports fell even more.