Tin Gains Seen by Indonesia as Top Shipper Takes Aim at LME
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Indonesia is seeking higher tin prices as the largest exporter presses on with a policy that metal be traded on a local exchange before shipment, affirming a shift that roiled the market when it began three months ago.
The policy, which started on Aug. 30, is on the right track, according to Sutriono Edi, head of the Commodity Futures Trading Regulatory Agency. The government doesn’t envisage changing the rule as volumes on the Indonesian Commodity and Derivatives Exchange, or ICDX, are increasing, said Trade Minister Gita Wirjawan, who’s targeting higher prices.