Tin Prices Tumbled by 1% - icdx.co.id
  • In a week (03/09 – 07/09) the price of ICDX’s Tin moved down 1.04%.
  • Price range between $18,900 - $19,200.
  • Highest volatility reached 0.75%.

Market Review

China's output of refined tin in Aug was grew 14% to 13,964 mt from Jul output at 12,206 mt as smelter's production activity that were effected by environmental inspection has returned to normal. The output in Sep is predicted to extend to 14,500 mt as China Tin Group will further recover their production.

The manufacturing industry especially in China, Japan and Uni Europa show a weakening phase. China’s Caixin Manufacturing PMI on Aug was down to 50.6 from its previous 50.8, Japan’s Nikkei Manufacturing PMI on Aug was stagnant on level 52.5, Uni Europa’s Markit Manufacturing PMI on Aug was also stagnant on level 54.6.

Timah Weekly Chart 180910 - icdx.co.id

Price Performance Indicators

Previous Week % Change
ICDX $ 19,000.00 -1.04%
LME $ 19,110.00 +0.63%
KLTM $ 18,810.00 -0.58%
SHFE ¥ 144,060.00 -1.17%
USD/IDR Rp 14,884.00 +0.79%

Market View

US - China Trade Tensions Simmering

U.S. President Donald Trump said on Wed (5/9) that the United States was not yet ready to come to an agreement over trade disputes with China but he said talks would continue. However, Trump also is considering imposing tariffs on another $200 billion in Chinese imports. In the other hand, China announced measures to support some of the exporters by raise export rebate rates for 397 goods, and this new rates will be effective from Sep 15.

PT Timah Tbk's Tin Mining in Nigeria

PT Timah Tbk has begun the exploration phase of tin mining in Nigeria and is expected to reach the exploitation stage this year. Through this expansion, it is estimated that PT Timah will get an additional tin production of 35,000 tons per year, with an initial production target of 5,000 tons per year. In addition, PT Timah also plans to expand tin mining to Myanmar.

WEEKLY ECONOMIC DATA & EVENTS CALENDAR

Date Data/Events Actual Expectation Previous
8/Sep China – Exports YoY (Aug) 10.1% 12.2%
8/Sep China – Imports YoY (Aug) 18.7% 27.3%
9/Sep Japan – Gross Domestic Product QoQ (Q2) 0.7% 0.5%
10/Sep Japan - Preliminary Machine Tool Orders YoY (Aug) N/A 13.0%
12/Sep Japan – Tertiary Industry Index MoM (Aug) N/A -0.5%
12/Sep Uni Europa – Industrial Production MoM (Jul) 0.8% -0.7%
12/Sep Japan - Machine Orders MoM (Jul) -1.3% -8.8%
14/Sep China - Industrial Production YoY (Aug) 5.9% 6.0%
14/Sep Japan - Industrial Production MoM (Jul) 2.4% -0.1%

Source: ICDX Research




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