Indonesian several refineries are forced to shut down the operations. BBIM and other 3 refineries stopped the operations after Indonesian government started strong regulation through the police force in the month to stop illegal operation as a part of policy to control tin resources. The move could reach other refineries. With the supply trouble in Indonesia, concern occurs in producers in neighbor countries, which depend on tin ore and crude tin from Indonesia, and buyers in Japan, in which tin import from Indonesia represents 50% of the total import. Indonesia produces annual 130,000 tonnes of tin, which represents around 35% of world output. State owned PT. Timah and PT. Koba Tin represent 50% of the output and smaller refineries produce tin in the country. Many of the small makers have no official license and Indonesian government has tackled the small makers’ illegal mining, refinery and smuggling. Indonesian government forced to stop production and shipment of BBIM, which is typical foreign owned new brand, and other 3 refineries. Indonesian tin export is also damaged. Indonesian government levied around 2,000 tonnes of tin at export shipping port in Bangka. With the congested cargo, export shipping to Japan is also stopped temporally since October 11, according to Japanese importer source. The move could affect tin production in China, Malaysia, Thailand and Singapore, which produce tin products with crude tin from smaller refineries in Indonesia.
Japan Steel Scrap Composite Prices (Sangyo Press)
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