ANNOUNCEMENT 23 Mar 2015In March 2015, the government of Indonesia announced an altered export quota.
NUMBER OF INTERVENTIONS
PT Timah report (in Bahasa Indonesia):
On 23 March 2015, 22 Indonesian tin-exporting companies agreed to impose monthly export quotas of 4'500 metric tons of tin, after the commodity's price and the country's exports had been steadily falling.
Among these companies was the world's largest tin producer PT Timah, which is majority owned by the state. The company hinted such measures already in a quarterly report on 30 October 2014, saying that "the company's management remains optimistic that the slowdown is only temporary and will eventually lead back commodity prices skyrocketing along with the imposition of restrictions on tin export quota. As one of the major companies, PT Timah (Persero) is still selective in its sales in order to maintain price stability." (own translation) The state-owned enterprise will restrict itself to 2'500 metric tons of tin monthly, dividing the rest of the quota among the other 21 producers.
According to the head of the tin working group in the province of Bangka Belitung (where Indonesia's largest tin smelter is located), the quota will be reviewed on a monthly basis.
The trade volumes were based on 2013 data, since the one for 2014 was not yet available in the UN COMTRADE database.