TIN becomes one of the commodities whose price movements are affected by global macroeconomic conditions. The Chinese economy and the US interest rate decision of the US Federal Reserve which is expected to be announced later this year also aided the price of tin.

Markets Manager of ITRI Peter Kettle said the two major global factors were the guidance of the industrialists. Indirectly, if the economic conditions of the United States and China improve, the tin industry can be more enthusiastic and it boosts world tin prices. "All leads to the Fed rate of the US and China's economy. There is a bit of a shock, but it will be good, "said Kettle in Indonesia Tin Conference & Exhibition (ITCE) in Nusa Dua, Bali, yesterday.

Currently, the price of tin has risen since the beginning of the year, ie US $ 18 thousand-US $ 19 thousand per ton. However, Peter warned global production and consumption of tin also affected tin prices. Unfortunately, in the short term, Indonesia has not been able to boost tin production. Kettle estimates Indonesia's tin production will be stable at 60 thousand-65 thousand tons per year. Production was down from 2010 which reached 100 thousand tons.

Moreover, he added, China's tin production is also likely to continue to decline due to economic slowdown. Also, Peru also slumped from about 30,000 tons in 2010 to 20,000 tons last year as their tin mines are only one and slowly declining. According to him, the world's tin production since last four years began to be donated by Myanmar because of the discovery of new mines there. However, he said that Myanmar's production in the short term could not affect the price of tin due to its low quality.

"So when will tin price rise? Will not be in the near future. We predict that the price of tin will reach US $ 22,500 per ton by 2020, "he added.

Walakin, CEO of Indonesia Commodity & Derivative Exchange (ICDC) Megain Widjaja is optimistic that the price of tin will continue to improve. (Jes / E-1).

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