PT Timah Refined Tin Production Surged in Q3 2017

SEATTLE (ITRI.CO.UK): State-owned Indonesian tin producer, PT Timah, has reported refined tin production of 7,932 tonnes for Q3 2017, effectively unchanged from Q2, but up 22.5% year-on-year.

Mined tin output fell 7.5% to 7,776 tonnes from the previous quarter, but was up 13.3% on the previous year. The company's refined tin stocks at the end of the quarter rose 4.6% year-on-year to 3,966 tonnes, while tin contained in ore and slag stocks rose 14% to 11,478 tonnes. Refined tin production over the first nine months of the year totalled 22,837 tonnes while mine production totalled 23,854 tonnes, both up by over 40% compared to the same period of 2016.

Indonesian exports of refined tin based on trade ministry data totalled 7,512 tonnes in October, according to Trade Ministry data, up slightly from the 7,504 tonnes reported for September. Export levels in both of these months are at their highest since September 2016.

ITRI View: Indonesian tin production has recovered strongly this year, primarily in response to higher average tin prices in 2017 relative to 2016. ICDX tin trade data for the first half of November totalled 4,045 tonnes, suggesting we will see similarly strong exports this month. Total refined tin exports for the first 10 months of 2017 amounted to some 62,500 tonnes and assuming current export levels are maintained could reach some 77,500 tonnes by the end of the year. 

Courtesy: www. itri.co.uk