Indonesia November Refined Tin Exports Increase 2.5%

Refined shipments of refined tin from Indonesia, the world’s largest exporter, expanded 2.5 percent in November from a month earlier, the country’s trade ministry said.

Exports rose to 8,986.38 tons in November from 8,766.9 tons in October, Djunaedi, head of mining exports at the Trade Ministry, said by phone in Jakarta today. Shipments during the January-to-November period were 84,764.67, according to a faxed statement from the ministry.

That’s lower than the 90,779.02 tons exported during the same period in 2009, according to data compiled by Bloomberg.

Increased supplies may curb a rally that has seen prices of the metal used for soldering and packaging rise 6 percent since last month, driven by concern that heavy rains in Indonesia would lower production and shrink stockpiles amid rising demand.

In November, the metal was shipped to 8 countries, including Singapore, Malaysia and Japan. Most of the shipments, 7,165.32 tons or 80 percent of the total, went to Singapore. Tin for three-month delivery on the London Metal Exchange rose 0.3 percent to $25,900 a ton at 1:54 p.m. Jakarta time.Source: Bloomberg