Price Performance Indicators

• In a week (4/4 - 8/4) the price of ICDX Tin weakened 0.74 percent.   
• The highest volatility reached 1.71 percent. 

Market Review

ICDX tin price in the week ending April 8 closed down by 0.74 percent. Indonesia's tin export activities are starting to recover along with the increasing number of exporters who have obtained export permits, making supply stable again. On a monthly basis, it was recorded that export transactions throughout March conducted through ICDX increased by 11.12% to 2,747.29 metric tons, with transaction values reaching $122.35 million.

Meanwhile, China's refined tin production in March was reported to have increased by almost 25% to 15,196 metric tons in March on a monthly basis, and an increase of 5.26% compared on a yearly basis. The reasons for the increase in production in the world's first-largest tin-producing country are, among others, the re-activation of smelters after the Spring Festival holiday and the end of maintenance periods in several major smelters, which has led to an increase in tin output.

From the demand side, the re-escalation of Covid cases in China, which prompted lockdowns in various regions of the country, also fueled fears of a decline in demand from the world's first largest tin-consuming country. Shanghai, China's financial center, accounts for most of China's new infections.

Market View

Babel's Tin Ores Collector Will Be Taxed

In a meeting between the Governor of Babel Erzaldi Rosman and tin stakeholders which took place on Tuesday (12/4), it was agreed that the tin ores collectors who have been partners in the smelter in Bangka Belitung will be taxed starting April 21. Until now there has been no official decision regarding the amount of tax that will be imposed. However, Erzaldi emphasized that this new policy will not significantly affect the operation of the smelters.

WEEKLY ECONOMIC DATA & EVENTS CALENDAR

Source: ICDX Research