Bisnis.com, NUSA DUA - Despite being the world's largest tin exporter, Indonesia is not a determinant of metal commodity prices. Why?

ICDX Chief Executive Officer Megain Widjaja said many factors affect the formation of world tin prices, such as tin production, tin product demand to the stability of the world economy.

"As the world's second largest tin producer, Indonesia must have a strategic role to contribute to the process of forming the world tin price," he said in the Indonesia Tin Conference & Exhibition (ITCE) in Nusa Dua, Bali, Monday (19/9 / 2016).

For that, he said, Indonesia's tin industry can be more advanced and become a leader in the world. He hopes, Indonesia can be a determinant of world tin prices mainly due to considerable production.

Based on data of tin trade in the market during 2016, from January to August, the price of tin showed a positive trend. In January, the average tin price at ICDX was at Rp14,024.

This price continues to increase significantly, reaching an average price of Rp19,000 in August 2016. More importantly, the price formed at ICDX has no significant difference with prices formed on the London Metal Exchange (LME) and Kuala Mud Tin Market (KLTM).

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