Tin export drops

Tin shipments from Indonesia, the world's biggest exporter of the commodity, dropped 2.5 percent in March from a month earlier after transactions declined at the Indonesia Commodity and Derivatives Exchange (ICDX), the only exchange allowed to trade the metal before sales.

Exports fell to 5,847.5 metric tons last month from 5,997.5 tons in February, according to data released by the Trade Ministry. Shipments were 9,295.7 tons in March 2013.

Lower shipments from Indonesia may extend a rally in the price of the metal. The country required that all refined tin be traded through the ICDX before shipment since August, seeking to create a benchmark price. The rule will apply to solder in 2015.

Trading at the ICDX plunged 35 percent to 2,665 tons in March from February, the Jakarta-based exchange said March 28. The bourse was closed on March 31 for a holiday.

Exports in March, based on surveyors' reports before shipments, comprised of 4,840.6 tons of ingots, 431.9 tons of solder and 575 tons of other tin products, the Ministry of Trade said. That compares with 2,009.9 tons of solder, 3,507.6 tons of ingots and 479.9 tons in other forms in February. Previous month's data for ingots and other forms were revised.

Editing by Reiner Simanjuntak