Turbulance in Indonesia's Tin Market - icdx.co.id
  • In a week (04/03 – 08/03) the price of ICDX’s Tin dropped down 1.17%.
  • Price range between US$ 21,535 - US$ 21,610
  • Highest volatility reached 0.62%.

Market Review

Tin trading on ICDX for period 1 - 08 Mar, dropped 93.79% to 18 lots compared to same period last month. A new regulation from Directorate General of Foreign Trade that take effect from Mar 1, 2019, has a big impact on the decreased of export volume due to the smelters including PT Timah Tbk has to fulfil the new requirement before they could export the tin.

Meanwhile China is facing its own supply problem.Production in Myanmar appears to be in structural decline as easily accessible ore is exhausted. According to ITA (International Tin Association), China's imports of tin concentrates, the vast majority of which come from Myanmar, fell by 25 percent last year.

Timah Weekly Chart 190308 - icdx.co.id

Price Performance Indicators

Previous Week % Change
ICDX $ 21,535.00 -1.17%
LME $ 21,410.00 -1.79%
KLTM $ 21,520.00 -0.60%
SHFE ¥ 147,850.00 -2.01%
USD/IDR Rp 14,223.00 +0.79%

Market View

ICDX's New Tin Physical Contract

Effective per 4 March 2019, ICDX has launched a new tin physical contract by using Bonded Logistics Centre (PLB) warehouse as a delivery point after traded in Exchange. The use of bonded warehouses would help to eliminate in-country risks for tin buyers and sellers by guaranteeing the legal status of tin stored by PLB. It expect to be a solution for delivery issues that already lingering since late October 2018.

WEEKLY ECONOMIC DATA & EVENTS CALENDAR

Date Data/Events Actual Expectation Previous
11/Mar Japan - Preliminary Machine Tool Orders YoY (Feb) N/A -18.8%
11/Mar Japan - BSI Large Manufacturing QoQ (Q1) N/A 5.5
12/Mar Japan - Machinery Orders MoM (Jan) -1.7% -0.1%
13/Mar Japan - Tertiary Industry Index MoM (feb) 0.5% -0.3%
13/Mar Uni Europa - Industrial Production MoM (Jan) 0.9% -0.9%
14/Mar China - Industrial Production YoY (Feb) 5.5% 5.7%
15/Mar China - House Price Index (Jan) N/A 10.0%
17/Mar Japan - Imports YoY (Feb) N/A -0.6%
17/Mar Japan - Exports YoY (Feb) N/A -8.4%

Source: ICDX Research




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