The Latin name for Tin is Stannum, derived from its chemical symbol Sn. Tin is a base metal under the category of non-ferrous metal. Due to its characteristic of low toxicity level and is easily recycled, make it attractive on environmental grounds.
Tin is a key ingredient in a wide range of manufacturing sectors, including consumer goods, packaging, construction, vehicles and other forms of transport.
Indonesia is the world’s second-largest tin producer (after China) and the world’s largest tin exporter. The islands Bangka and Belitung, off the coast of Sumatra account for 90 percent of the country’s annual tin export.
Indonesia’s strong position in the global tin trade led policymakers to implemented various regulation for tin exports in an attempt to boost global tin prices and combat illegal mining. The latest regulation for Indonesia tin ingot through the Ministry of Trade Regulation No 33 Year 2015 has required all the transaction of Indonesia’s Tin Ingot for export and domestic must be traded first through ICDX.
The Fundamental Drivers of The Tin Market
- Prices movement in the international markets (ICDX, LME, KLTM & SHFE);
- US dollar exchange rates against others major currencies;
- Economic factors on the top producer & consumer country: industrial growth, global financial crisis, recession, inflation, etc.;
- Commodity-specific events: construction of new production facilities or processes, new uses or the discontinuance of historical uses, unexpected mine or plant closures (natural disaster, supply disruption, accident, strike, and so forth), and industry restructuring;
- Government trade policies (implementation or suspension of taxes, penalties and quotas);
- Geopolitical events.
TINPB300, 02.30 – 02.37 PM (Jakarta Time)
TINPB200, 02.40 – 02.47 PM (Jakarta Time)
TINPB100, 02.50 – 02.57 PM (Jakarta Time)
TINPB050, 03.00 – 03.07 PM (Jakarta Time)
TIN4NINE, 03.10 – 03.17 PM (Jakarta Time)
TIN is a symbol of lead physical contract specifications of 5 metric tons per lot in USD. The quality of tin that can be sent through this contract must have a minimum purity level of 99.90% and a maximum lead content (Pb) of 300ppm and iron (Fe) of 50ppm.