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Indonesia's April Tin Exports Rise 22%
May 09, 2011

A worker checking refined tin in a warehouse of a private company in Pangkalpinang, Bangka Belitung. Indonesia A worker checking refined tin in a warehouse of a private company in Pangkalpinang, Bangka Belitung. Indonesia's refined tin exports rose 22 percent in April from the same month last year, due to improving weather conditions, an official at the trade ministry said on Monday. (Reuters Photo)
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Indonesia's refined tin exports rose 22 percent in April from the same month last year, due to improving weather conditions, an official at the trade ministry said on Monday.

Indonesia, the world's top tin exporter, shipped 9,708.45 tons of refined tin in April, compared to 7,926.49 tons in April last year, trade ministry data showed.

"Better weather conditions and a better business climate have pushed exports higher," said Junaedi, the head of the export of mining products at the ministry.

He added that both central and local governments were working better together, to help boost output.

Last month smelters said the supply of tin ore to independent smelters in Bangka island, the country's main source of tin, had fallen as rain and police raids on illegal miners had hampered mining.

Benchmark tin on the London Metal Exchange traded at $30,125 a tonne by 0729 GMT, versus Friday's close of $29,650.

The metal, which is used in soldering in the electronics industry, hit a record high of $33,600 in April.

A crackdown on illegal mining, tighter export rules, declining onshore reserves and rain that has hindered production in Indonesia have helped drive the tin rally.

Indonesia expects to produce 90,000 tonnes of refined tin this year, up from 78,965 tonnes in 2010.

"We could have expected some reaction to the extremely strong prices of the past 7-8 months," said David Thurtell, a Singapore-based analyst at Citigroup.         


Reuters