Indonesian Trade Ministry figures show that refined tin exports for August have remained low for the second month in a row at 6,525 tonnes, (6,466 tonnes in July) compared to the record level of 11,048 tonnes in June, according to Bloomberg News. Compared to exports of 5,646 tonnes in August 2012, the latest numbers represent a 16 per cent rise. However, the year ago numbers were depressed by a voluntary reduction in exports to support higher prices.
The outlook for September is for lower exports month on month and year on year as exporters and buyers scramble to meet the new regulation requiring all ingot to be sold on an Indonesian exchange.
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