In one week (29/01 – 02/02) the price of ICDX’s Tin moved up 0.82%.
  • In one week (29/01 – 02/02) the price of ICDX’s Tin moved up 0.82%

Market Review

China Customs Data showed that Import of Tin (refined tin + tin alloy) on December 2017 decreased 78.57% YoY and the Export has increased 86.70% YoY in December 2017. According to data released by the National Development and Reform Commission (NDRC), China’s production of 10 nonferrous metals amounted to 53.78 million metric ton in 2017, up 3% from a year ago, the annual growth was up 0.5 percentage point from the previous year.

The bullish of tin price is also supported by data from importer country, Japan, which is Preliminary Industrial Production on December 2017 up to 2.7% from its previous 0.5%, and Nikkei Manufacturing PMI on January 2018 up to 54.8 from its previous 54.4.

Tin Price Supported by Fundamental Data

Price Performance Indicators

Previous Week % Change
ICDX USD 21,500 +0.82%
LME USD 21,770 -1.07%
KLTM USD 21,450 +1.04%
SHFE USD 23,655 +1.49%
USD/IDR IDR 13,428 +0.94%

Market View

Upcoming Chinese New Year Event in China

In China, some exporters have stopped taking orders since the end of January due to the approaching Chinese New Year and uncertainties over logistics. Some traders also booked their cargoes earlier in the face of uncertain freight rates.

WEEKLY ECONOMIC DATA & EVENTS CALENDAR

Date Data/Events Actual Expectation Previous
05/Feb Japan – Markit Services PMI (Jan) 51.9 49.9 51.1
06/Feb Europe – Germany Factory Orders MoM (Dec) 0.5% -0.4%
07/Feb Japan – Leading Economic Index (Des) 1.5% 1.5%
Europe – Industrial Production Jerman MoM (Dec) -0.5% 3.4%
08/Feb China– Exports YoY (Jan) 10.8%
China – Impor YoY (Jan) 4.5%
09/Feb China – Producer Price Index YoY (Jan) 4.9%
Japan– Tertiary Industry Index MoM (Jan) 0.0% 1.1%
UK – Manufacturing Production MoM (Des) 0.0% 0.4%
UK – Industrial Production MoM (Des) 0.0% 0.4%

Source: ICDX R&D




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