Indonesia's top tin exporter Timah says stopped tin shipments
SINGAPORE, Sept 4
SINGAPORE, Sept 4 (Reuters) - Indonesia's top tin exporter PT Timah has stopped tin shipments and declared force majeure since August 30 when new regulations forcing domestic producers to trade on a local exchange came into force, a company spokesman said.
Responding to a question asking whether the company had called forced majeure, Timah corporate secretary Agung Nugroho said in a text message: "Yes, we have since the INATIN is implemented, 30th August".
The Indonesia Commodity and Derivatives Exchange (ICDX) launched the country's only physical tin contract last year. As of last Friday, all 47 registered tin ingot exporters must now trade on a domestic exchange before shipping material. (Reporting by Michael Taylor in JAKARTA and Melanie Burton in SINGAPORE; Editing by Muralikumar Anantharaman)
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