RI'S TIN INGOT EXPORTS DOWN 16.7 PCT IN AUGUST

Jakarta, Sept 8 (ANTARA) - Indonesia's tin ingot exports in August 2008 fell by 16.7 percent to 8,231.49 tons worth US$167.11 million from 9,883.28 tons worth US$220.61 million a month earlier.

"On average our tin ingot exports range from 7,000 tons to 9,000 tons a month," Director of Industrial and Mining Product Exports at the Trade Ministry Hartojo Agus Tjahjono said here on Monday.

Data from the ministry show the August 2008 tin ingot exports only went to Singapore (7,567.30 tons), Malaysia (644.33 tons) and Taiwan (19.87 tons).

No tin ingots had been exported to traditional markets such as Japan, South Korea, India, Hong Kong, and The Netherlands in August.

"Perhaps they still have large stocks," he said.

He projected Indonesia's tin ingot exports this year would increase by 70 percent to US$1.6 billion-US$1.7 billion from the year before.

"But there will be no surge in the volume of tin ingot exports this year. We predict the volume of our tin ingot exports until the end of this year will reach nearly 100,000 tons," he said.

The country's tin ingot exports in the first half of 2008 stood at 46,321 tons worth US$863.252 million.