Tin shipments in Indonesia remain at maximum

Indonesian tin shipments in June 2014 held at a five-month high, while trade at the world's largest exporter fell as the metal must be processed to increase its value before being sent abroad.

In June, total exports stood at 12,376.8 metric tons, just below the 12,778.8 tons in May, when it hit its highest level since December last year. In June 2013, sales were 11,111.4 tons. Exports in June, before shipment, totaled 11,252.2 tons of ingots, 230.6 tons of solder and 894 tons of other products.

Last month, prices fell by about 2.9 percent for metal solder shipments. Since last year, with regard to shipments to Southeast Asia, the country has increased its minimum content for export and has mandated that bullion must be traded through the Indonesian Mercantile Exchange, or ICDX.

The country is seeking to establish a base price on the London Metal Exchange as a global price setter. The research manager of ITRI Ltd said that a relatively weak tin market is expected in the near future.

ICDX trading volume fell nearly 40 percent to 4,660,000 tons in June from May, according to the Indonesian Exchange. The Commerce Department said shipments in the first half fell 15 percent to 46,832.4 thousand tons, compared with 55,011 tons last year.