Indonesia's refined tin exports rose 4.5 percent in July from the same month last year but were down almost 15 percent from last month, an official at the trade ministry said on Tuesday.
Indonesia, the world's top tin exporter, shipped 9,265.72 tonnes of refined tin in July, compared with 8,869.51 tonnes in July last year, trade ministry data showed. In June, tin exports were 10,875.25 tonnes.
Trade ministry data showed that Indonesia's tin exports from January until July this year were 59,430.23 tonnes.
"Tin production is normal so far, however with prices dropping recently, output and export volume are automatically following the price trend," said Rudi Irawan, vice chairman at the Indonesian Tin Industry Association and director at independent smelter CV Stania Prima.
At 0506 GMT, benchmark tin on the London Metal Exchange was at $22,500 a tonne after falling by 7.6 percent on Monday, as investors dumped riskier assets in a global rout triggered by fears political leaders are failing to tackle debt crises in the United States and Europe.
Tin struck a record high above $33,000 in April.
A crackdown on illegal mining on the main producing islands of Bangka and Belitung, tighter export rules, declining onshore reserves and rain that has hindered production in Indonesia helped drive the tin rally earlier this year.
Indonesia expects to produce 90,000 tonnes of refined tin this year, up from 78,965 tonnes in 2010, on expectations of improved weather conditions.
Indonesia's dry season started in most areas around May-June, the Climatology, Meteorology, and Geophysics Agency has said. Source: Reuters
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