Indonesia’s Tin Market Still Waiting for Policy Certainty
  • In a week (09/04 – 13/04) the price of ICDX’s Tin moved down 0.40%.
  • Highest volatility reached 1.33%.

Market Review

In Indonesia, several smelters have scheduled shutdowns and administrative disruptions related to delays of export permit (PE) renewals. An extension of this export paperwork bottleneck could impact the tin market. On the other side, a mining license for small-scale mining (IPR) also still on hold. In 2018, only 78 IPR that has been granted by the Government of Province of Bangka Belitung from 1,200 IPR submit in 2016.

Japan Consumer Confidence Index in March is stagnant on level 44.3, Machine Orders in Feb fell to 2.1% from 8.2% on Monthly basis and fell to 2.4% from 2.9% on Yearly basis. China Producer Price Index in March fell by 0.6% on yearly basis and the Consumer Price Index also fell by 0.8% in March on yearly basis. China exports in March fell to 7.4% from its previous 36.2% on yearly basis. From imports side, in March rise to 11.7% from its previous -0.2% on yearly basis.

Pasar Timah Indonesia Menunggu Kepastian Kebijakan Indonesia’s Tin Market Still Waiting for Policy Certainty

Price Performance Indicators

Previous Week % Change
ICDX $ 21,090.00 -0.40%
LME $ 21,190.00 +0.43%
KLTM $ 20,980.00 +0.33%
SHFE ¥ 143,070.00 -1.06%
USD/IDR Rp 13,753.00 -0.13%%

Market View

PT Timah Tbk Invests $26 million in Nigeria

PT Timah Tbk`s President Director, Mochtar Riza Pahlevi Tabrani, on Thursday (12/04) said that PT Timah Tbk will invest US$26 million or equivalent to Rp356.2 billion to realize the business expansion of the state-owned enterprise in Nigeria. The first phase of production is expected to reach 5,000 metric tons per year. PT Timah will establish a joint venture company (JV Co) soon, which will be the company`s operational representative in Nigeria. The formation of the JV CO, PT Timah, along with Topwide Venture Ltd, will optimize the mining concession area of 16,000 hectares.

Chile mulls revision to mining code

Chile’s government will create a task force focused not only on promoting mining investment in the country, but also helping those companies navigate the rather complex process of getting a mining license. The idea is to make that voluntary practice a legal obligation that helps mid-size miners and juniors to come back to Chile’s mining sector.The ministry is also in the process of setting a Presidential Advisory Commission, which will come up with a new national mining policy for the 2018-2050 period, covering taxes, environmental and social aspects. Public and private sector representatives, mining associations and companies of all sizes, will make up that group.

WEEKLY ECONOMIC DATA & EVENTS CALENDAR

Date Data/Events Actual Expectation Previous
16/Apr USA – NY Empire State Manufacturing Index (Apr) 20.10 22.50
17/Apr China – Industrial Production YoY (Feb) 6.20% 7.20%
17/Apr Japan – Industrial Production MoM (Feb) 4.90% 4.10%
18/Apr UK - PPI Core Output MoM (Mar) 0.30% 0.20%
19/Apr Japan - Tertiary Industry Index MoM (Mar) -0.60%
20/Apr Germany - Producer Price Index MoM (Mar) -0.10%
20/Apr Europe - Preliminary Consumer Confidence (Apr) 0.00 0.10

Source: ICDX Research




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