ICDX suspends transaction of tin bars from 26 smelters
Thursday, July 30 2015 - 04:59 AM WIB
The Indonesia Commodity and Derivatives Exchange (ICDX) has decided to suspend transaction of tin bars produced by 26 smelters on August 1 in line with the new Minister of Trade Regulation No 33/2015, Bisnis Indonesia reported Thursday.
The paper quoted ICDX official Stella Lukman as saying that the smelters failed to get the required export permit by the July 15 deadline.
The new regulation stipulates that exporters are required to have export permit to make overseas shipment.
The paper said ICDX has also launched a new tin contract to adjust to the new regulation requiring all tin solders destined for export must use locally-produced tin bar raw material.(*)