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Indonesian physical tin exchange opens

February 01, 2012 - 14:28 GMT Location: London

KEYWORDS: Indonesia , Bangka , tin , ITRI , Peter Kettle , Inatin

Indonesia’s first physical tin exchange began trading on Wednesday, February 1, a month-and-a-half after the date originally scheduled.

The opening of the bourse, known as Inatin and part of the Indonesia Commodity and Derivatives Exchange (ICDX), was pushed back to accommodate producers and buyers celebrating the Chinese New Year. It was initially mooted by 28 members of the Indonesian Tin Association in October last year, as part of a bid to give producers better control over supply and prices, and as an alternative to the London Metal Exchange benchmark. “It’s off the ground, at least. The volumes were very small today – two lots of five tonnes each. The settlement came to $25,400 per tonne,” Peter Kettle, markets manager at the...

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