(Insider News) - Indonesia Trade Ministry eased a rule on lead content for tin shipments to help smelters meet export requirements. The revision came after some smelters said they were unable to meet the content limits. The new law signed by Trade Minister Gita Wirjawan on June 28 took effect on July 1.
The decree stated, limit for lead was increased to a maximum 0.030% from 0.010%, the iron limit was unchanged at a maximum 0.005% while other metals such as cadmium and aluminum were removed from the regulation and tin purity was increased to 99.9% from 99.85% as planned.
Tin producers must trade ingots in the local physical market first before export with effect from Aug. 30 and for other tin products from Jan. 1, 2015, according to the rule.
Tin for delivery in three months rose 1.9 percent to US$19,200 a metric ton on the London Metal Exchange. Tin prices are down 18% this year.
Exports from Indonesia may fall 20% to 79,000 tons this year because of the rules. Exports in May rose 18% from April to reach 9,242 tons.
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