Because of Indonesia, Tin Price Breaks the Highest Record!

The world tin price set a new record high after the release of export data from Indonesia. On Tuesday (11/1/2021), the world tin price was recorded at US$ 40,125/ton, this figure rose 0.52% compared to yesterday’s position of US$ 39,918/ton. Indonesia’s refined tin exports in December reached 7,966.70 tons, according to data from the Ministry of Trade. This number grew 26.10% compared to the previous month. When compared to December 2020, Indonesia’s exports rose 24.94%. In accumulation, Indonesia’s refined tin exports in 2021 will reach 74,671.65 tons. An increase of 14.11% compared to 2020 of 65,435.95 tons.

Indonesia is the second-largest producer of refined tin in the world after China. The significant increase in refined tin exports from Indonesia is a signal that the demand for tin is still high. Exports were led by shipments to Singapore, the Netherlands, and India.

Tin is used in consumer electronics such as smartphones, laptops, and digital via soldering in semiconductors. Demand also comes from the new renewable energy (EBT) sector. Tin solder is a major part of photovoltaic cells, which are the main components that make up solar panels.

Jan 11, 2022, CNBC Indonesia