File photo of a worker counting ingots of tin at a PT Timah smelter in Mentok, on the Indonesian island of Bangka. At the end of August this year, Indonesia ruled that all tin ingot shipments should trade via a local platform, the Indonesia Commodity and Derivatives Exchange (ICDX), before being exported - Reuters Photo.
PANGKALPINANG: Indonesia's bold attempt to challenge the London Metal Exchange (LME) for supremacy in the global tin market by imposing strict export rules and driving up prices looks to be paying off.
Shipments from the world's biggest tin exporter slumped to below 1,000 tonnes in September from over 6,000 tonnes after Jakarta ruled at the end of August that all tin ingot shipments should trade via a local platform, the Indonesia Commodity and Derivatives Exchange (ICDX), before being exported.
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