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UPDATE 1-Indonesia's refined tin exports drop 38 pct in Oct y/y-govt
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JAKARTA Nov 10 (Reuters) - Indonesia's refined tin exports slumped 38 percent in October from a year ago to 5,441.58 tonnes, after smelters imposed a shipment ban from the world's top exporter, a trade ministry official said on Thursday.
Indonesian refined tin exports for January to October were 78,714.96 tonnes, the data added.
Smelters in Indonesia's main tin producing region of Bangka island have imposed a tin ingot export ban since Oct. 1 in an effort to prop up falling global prices.
Indonesia's tin industry has a history of supply disruptions, while a trend of falling output because of declining onshore reserves in the main Bangka island producing region has been boosting prices in recent years.
There are 39 tin smelters approved by the Indonesian trade ministry to export refined tin.
In early August, the association said police carrying out an environmental crackdown in Bangka were hindering domestic smelters' supplies.
These events come against the backdrop of falling onshore reserves in Bangka, which is off Sumatra's east coast and the world's largest tin-producing area.
Tin, mainly used in soldering for electronics, last traded at $21,650 a tonne on the London Metal Exchange. The metal, which touched a record high of above $33,000 a tonne in April, has gained around 20 percent since lows on Sept 26, when the stoppage decision was made.
Analysts say the price impact of the latest tin export stoppage could increase in December, when London stocks level are seen falling to a thin level of 10,000 tonnes.
(Reporting by Yayat Supriatna; Editing by Ron Popeski)
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