Tin Price Fell on Lower Industrial Activity
  • In a week (12/03 – 16/03) the price of ICDX’s Tin moved down 1.63%.

Market Review

Indonesia`s state-owned tin company PT Timah Tbk will build a tin smelter in Nigeria as part of expansion efforts to secure new tin ore reserves, a company official announced on Friday (16/3). This project is the beginning of PT Timah`s efforts to find fresh reserves and it comes after the 2017 signing of a cooperation agreement with the Nigerian company, Topwide Ventures.

The Trump administration is pressing China to cut its trade surplus with the United States by $100 billion, a White House spokeswoman said on Wed (14/03).

According to data from the Ministry of Industry and Information Technology (MIIT), China's automobiles in February's production fell 20.8% on a yearly basis and sales fell 36.6% on a monthly basis. US retail sales fell for three consecutive months in February as households cut back on purchases of motor vehicles and other big-ticket items. This hinted at a slowdown of economic growth in the first quarter.

Tin Price Fell on Lower Industrial Activity

Price Performance Indicators

Previous Week % Change
ICDX $ 21,100.00 -1.63%
LME $ 21,050.00 -1.52%
KLTM $ 21,050.00 -1.41%
SHFE ¥144,170.00 -1.60%
USD/IDR Rp 13,765.00 -0.21%

Market View

New energy cars pilot programme in Xining city, Qinghai

To promote new energy cars, Xining city of Qinghai province will build 1,000 more charging stations for new energy cars in 2018, and to gradually replace all petrol- and diesel-powered taxis with electric ones. The charging stations were introduced to Xining in 2016. At the end of 2017, there were 1,034 charging stations across 16 parking garages in the city.

Ore Sorting Technology Test-work in Achmmach Tin Project, Morocco

Australia-listed Kasbah Resources Limited has announced the promising results of ore sorting test-work for its Achmmach Tin Project in Morocco. Testing included processing of a two-tonne ore sample from the project in February 2018. Results indicated that implementation ore sorting could result in a 40% rejection of waste prior to delivery of ore to the main plant.

WEEKLY ECONOMIC DATA & EVENTS CALENDAR

Date Data/Events Actual Expectation Previous
19/Mar China - House Price Index (Feb) 4.90% 5.00%
20/Mar Japan - Leading Economic Index (Jan) 119.10 114.00
21/Mar USA – Fed Interest Rate Decision 1.75% 1.50%
22/Mar Japan - All Industry Activity Index MoM (Jan) -0.10% 0.50%
22/Mar German – Preliminary Markit Manufacturing PMI (Mar) 59.80 60.60
23/Mar Japan – Inflation Rate MoM (Feb) 0.10% 0.40%

Source: ICDX Research




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