A senior official in Indonesia’s Ministry of Trade told reporters on Friday that the country plans to establish its own tin market.
“We expect within five years to have a Jakarta Tin Market,” Diah Maulida, the ministry’s director general of foreign trade, told reporters in Jakarta. “The plan is related to our regulation on refined tin exports.”
Indonesia’s Futures Exchange Supervisory Board, or Bappebti, will prepare the study and discuss with tin companies, Diah said.
The London Metal Exchange is currently the world’s only significant futures market for tin, while the Kuala Lumpur Tin Market in Malaysia provides a spot market and reference price for parts of Asia.
