As the world's largest tin exporter, Indonesia has continued to record the highest tin price since early 2021. Find out more about the Indonesian tin market and other leading commodities in THE SOURCE ISSUE 19.

After undergoing a fluctuating trend, finally the crude palm oil (CPOTR) contract ended last week with a slight weekly appreciation of 0.58% to the level of Rp 15,630, - per kg. In detail, after having strengthened for three days in a row, CPO then reversed to collapse in the last two days of the week. Sentiment related to the balance of supply and demand is still the latest focus of overall prices. Meanwhile, behind that, there is also a psychological factor in which a fairly sharp increase in CPO prices makes CPO prices vulnerable to correction.

The gold contract GOLDUD closed last week's fluctuations with a slight gain of 0.54% to $1,818.40 per Troy Ounce. The movement of gold prices looks to pay attention to the release of a number of key US data, and is closed by the focus that digests some of the expectations of directions from central bank officials delivered at the Jackson Hole Symposium since the start of last week.

The trend of tin prices on ICDX began to move steadily with a downward trend entering the fourth week of August, however, if compared on a monthly basis, the average price of tin during August traded on ICDX was in the range of USD 35,640 per tonne or 4 percent higher than the average price in July. The highest price of tin on ICDX in August reached USD 36,615 per tonne and the lowest level touched USD 34,870 per ton.

The COFR crude oil contract closed last week's fluctuation with a significant correction of 8.64% to the level of Rp 976,900 per barrel. Still a major catalyst of pressure, price consolidation in the bearish zone weighed down by a potential increase in oil supplies from the US as well as a spike in the spread of Covid-19 globally triggering new restrictions and lockdowns that negatively impacted fuel demand.

The COFR crude oil contract closed last week's fluctuations with a slight increase of 0.83% to Rp 1,045,600 per barrel. The narrow movement of crude oil last week occurred on the back of a tug of war of positive and negative sentiment absorbed by the market which is very sensitive to the stability of global oil supply and demand levels.

While the transition to renewable energy continues to grow, environmentally damaging activities grow faster. Governments and private companies across the globe has committed to a net-zero emission goal by 2050, but as the urgency increases, we need a more efficient global solution.

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.