Price Performance Indicators

• In a week (26/7 - 30/7) the price of ICDX’s Tin edged up 3.91 percent.   
• Highest volatility reached 5.49 percent. 

Market Review

The price of tin traded on ICDX was observed to show a bullish trend throughout 2021, where the price of tin which was around $21,000 at the beginning of the year continued to climb up to penetrate the level above $35,000 at the close of the 1st semester of 2021. In terms of volume, tin exports carried out through ICDX also show positive performance. The total export volume in the first semester of this year reached 12,866.93 metric tons, an increase of 202 percent compared to the second semester of last year.

  The increasing demand for tin amid the issue of tight supply due to the Covid-19 pandemic, which has spread again in various major tin producing countries, especially Asia, is still the main catalyst that drives tin prices. So far, Indonesia, which is the world's second largest tin producer, has not experienced any problems due to the Covid-19 pandemic, however, PT Timah Tbk as the largest tin producer in Indonesia, stated that they will maintain a stable production this year in the range of 31 thousand to 34 thousand tons (11/7).

  Meanwhile, Chinese electric vehicle company Xpeng Motors on July 31 officially announced the launch of its manufacturing plant in the Wuhan Economic and Technological Development Zone, with a projected production capacity of 100,000 vehicles per year. The news also became a positive catalyst for tin prices, because tin commodities are widely used in the soldering industry and also in batteries. 

Market View

Vehicle Sales in China Will Reach 30 Million Units by 2025

China's auto market has experienced steady growth in both production and sales, with sales expected to reach a record high of 30 million units by 2025, according to a recently released report by China's New Energy Vehicle Industry Development. Quoted data from the China Association of Automobile Manufacturers (CAAM), it was reported that car production in China in the first half of 2021 rose 24.2% to 12.6 million units on an annual basis. Meanwhile, sales reached 12.9 million units, up 25.6% on an annual basis. (To find out more about the application of tin in vehicles, please visit the following website: https://www.internationaltin.org/how-is-tin-used/) 

WEEKLY ECONOMIC DATA & EVENTS CALENDAR

Source: ICDX Research