The average of ICDX's tin price at the beginning of April was observed to have remained stable above the level of USD 27,000 per ton. Meanwhile, the total volume of Indonesian tin transactions for export destinations in March reached more than 6,500 tonnes, of which 45% of transactions were made through the ICDX.
Starting the week bearish, the COFR crude oil contract price on the Indonesian Commodity and Derivatives Exchange managed to make a significant recovery since mid-week and ended the week with an appreciation of 1.50%
Still moving back and forth around the same level throughout last week between $ 1730 - $ 1740 benchmark, the GOLDUD contract is broadly still moving on the back of the USD valuation which was busy responding to a number of important headlines from the US, and other developments in global sentiment.
The ICDX's tin price was shown to have increased by 6 percent in a week, supported by several positive catalysts, from the supply side, including bad weather that hit Indonesia as the second-largest tin producer in the world which had an impact on the disruption of tin mining activities at sea.
The increase in silver prices in the second month of 2021, attracted enough attention from the commodity market. What is the cause behind the increase? What is its potential as an investment asset? Find out more in THE SOURCE Issue 14.
The year 2021 begins with various interesting issues, ranging from mass production - changes to vaccines and the start of the era of the Joe Biden administration as president of the United States. So, how's the commodity market? How is the market responding to these major changes? Read more in The Source Issue 13.