Indonesia PT Timah to export 2,500T tin ingot this wk-source

Tue Dec 6, 2011 8:11am GMT
 

JAKARTA Dec 6 (Reuters) - PT Timah, the world's largest integrated miner, plans to export 2,500 tonnes OF tin ingot to Singapore this week, a source familiar with the plans told Reuters on Tuesday.

Members of Indonesia's tin association (ITA) shipped 7,000 tonnes of tin ingot overseas last week, showing an industry export ban that was meant to last until the end of this month has been fully broken.

Smelters in Indonesia's main tin producing region of Bangka island stopped shipments from Oct. 1 in a self-imposed bid to push benchmark tin prices above $23,000 a tonne, although the gates appeared to have opened after PT Koba Tin broke the ban last week by sending a shipment to Singapore. (Reporting by Dwi Sadmoko; Writing by Rieka Rahadiana; Editing by Ramthan Hussain)

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