Source:  ITRI Ltd

Indonesian Smelter Plans LME Listing        

Indonesia's PT Bukit Timah has applied to the London Metal Exchange (LME) to list its "IMLI" brand of 99.90% tin ingot on the exchange. The idea to list was initiated sometime in 2009, and was formally conveyed to the exchange representative in the second half of 2010. Currently only PT Timah and PT Koba Tin, have their brands approved as good delivery to LME warehouses.
The company has the capacity to produce some 1,500 tonnes of refined tin monthly and is currently producing 600 – 800 tonnes monthly. PT Bukit Timah is part of Indoprima group, which also owns the lead producer PT Indra Eramulti Logam Industri (IMLI), Indonesia.

Latinusa to Increase Tinplate Sales

PT Pelat Timah Nusantara (Latinusa), an Indonesian tinplate producer reported a 79% increase in net profit of Rp75 billion (US$8.3 million) in 2010 compared to 2009. The increase in net profit was due to strong sales which recorded some Rp1.4 trillion last year. The company’s spokesman reported that Latinusa sold 106,000 tonnes of tinplate last year, a 17% increase from 2009. The company is in the midst of expanding its production capacity from the current 130,000 tonnes annually to 160,000 tonnes annually. The expansion project will cost some US$14 million. The domestic demand for tinplate in the country, is around 200,000 tonnes annually.
Earlier, the company has reported that it would increase its exports to Australia. Krakatau Steel, a state-owned company owns 20% of Latinusa shares. In November 2010, a Japanese consortium led by Nippon Steel purchased a 55% share in the company.

Indonesian Exports Declined in February      

Provisional data from Indonesia’s Ministry of Trade revealed that the country’s refined tin export in February was at 6,181 tonnes valued at US$171.1 million. The volume was down almost 7% compared to February 2010, but due to the increasing tin prices, the value of sales rose by more than 70% year-on-year. The decline in tonnage was due to bad weather conditions.

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