LME tin exceeds $40,000/t after Indonesian president raises prospect of export ban

The three-month price for tin on the London Metal Exchange surpassed $40,000 per tonne for the first time ever on Wednesday November 24, following comments about metal exports by the president of Indonesia.

Speaking at the Indonesian central bank's annual meeting on Wednesday, Joko Widodo said Indonesia - the world's second biggest tin producer - might stop exporting tin in 2024, Fastmarkets understands.
“We have started with nickel. Maybe next year, we are calculating, we may stop exports of bauxite,” Widodo said, according to several media outlets.
“The next year we may be able to stop copper [exports] and the [following] year tin,” the president added.

Bauxite and copper ore...

Published

Ana de Liz

Callum Perry

November 24, 2021

15:43 GMT

London