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More buyers set to join Indonesian tin exchange

February 02, 2012 - 14:05 GMT Location: Singapore

KEYWORDS: Indonesia tin market , Inatin , tin , PT Timah , Koba Tin , ICDX , Bukit Timah

Six more international buyers are set to join the Indonesian tin exchange Inatin in the next 2-3 weeks, signalling the growing importance of the bourse in global markets, Indonesian Commodity and Derivatives Exchange (ICDX) spokeswoman Sarah Sabrina said.

“We are still processing the paperwork of six companies: Toyota Tsusho, Mitsubishi Corp, Hanwa, Noble Resources, and Danpac Capital,” Sabrina added. “They should be able to join in the next two to three weeks,” she told Metal Bulletin. Inatin, part of the ICDX, made its debut on Wednesday February 1, with nine participants. From Indonesia, there are PT Timah, PT Tambang Timah, PT Timah Industries, PT Refined Bangka Tin, PT Mitra Stania Prima and PT Comexindo International. International participants include 3H Co from South Korea, Purple Products from India, and Gold Matrix Resources from Singapore. At the end of the trading session, PT Comexindo International bought two lots of 5 tonnes of tin from PT Timah at $24,500 per tonne. The deal price is higher than the daily cash price of $24,055-24,060 per tonne at the London Metal Exchange on Wednesday February 1, and $24,050 per tonne at the Kuala...

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