INATIN (

Indonesia Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Gui ...

n Tin Exchange) which agreed to settle with the coordination of the Indonesia Commodity Derivative Exchange (ICDX) and PT Banda Graha Reksa. It was formally launched on February 1, 2012.

Requirements

* Physical show, not

futures Futures may mean: Finance *Futures contract, a tradable financial derivatives contract *Futures exchange, a financial market where futures contracts are traded * ''Futures'' (magazine), an American finance magazine Music * ''Futures'' (album), a ...

* At least 99.86 percent purity and has a brand * Sellers and buyers should be members of ICDX and pay the membership fee * Each lot consists of 5 metric tons of tin

Free On Board FOB (free on board) is a term in international commercial law specifying at what point respective obligations, costs, and risk involved in the delivery of goods shift from the seller to the buyer under the Incoterms standard published by the Inte ...

priced in US dollars with minimum decrease/increase price $5 per lot * Transaction fee 0.06 percent * Payment/settlement is T+2, or 2 days after transaction; the tin sales are to be delivered through Mentok port and Pangkalan Balam port in

Bangka Island Bangka is an island lying east of Sumatra, Indonesia. It is administered under the province of the Bangka Belitung Islands, being one of its namesakes alongside the smaller island of Belitung across the Gaspar Strait. The 9th largest island in ...

Session

Before the trading session begins, Tin Commission will decide the minimum or suggested opening bid price. The session is only 15 minutes, from 2.30 to 2.45 p.m. West Indonesian Time (7.30 to 7.45 a.m. UTC time). One minute after closing, the closing price will be announced.

LME, KLTM and INATIN

London Metal Exchange (LME) and Kuala Lumpur Tin Market (KLTM) are tin contract markets (not physical), while INATIN is a physical exchange.

Members

Whoever fulfills the requirements: * PT Timah (Persero) Tbk ( IDX: TINS) * PT Tambang Timah * PT Timah Industri * PT Kobatin * PT Mitra Stannia Prima * 3H Co. Ltd.(Korea) * Gold Matrix Resources Pte Ltd * Purple Products Pvt Ltd * PT Comexindo International * PT Refined Banka Tin *

Toyota is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on . Toyota is one of the largest automobile manufacturers in the world, producing about 10 ...

Mitsubishi The is a group of autonomous Japanese multinational companies in a variety of industries. Founded by Yatarō Iwasaki in 1870, the Mitsubishi Group historically descended from the Mitsubishi zaibatsu, a unified company which existed from 1870 ...

and Hanwa still in the process as buyers

Custodian

The custodian is PT Banda Graha Reksa, a state-owned company.

Price maker

At the first trade on February 1, 2012 there were 9 members; they opened for an equivalent of a metric ton at $24,640, closing at $24,500. LME closed at $20,290. The transactions were still very low with only 2 lot (10 metric tons) transactions, but INATIN hopes it will change the price taker position to be a

price maker In economics, market power refers to the ability of a firm to influence the price at which it sells a product or service by manipulating either the supply or demand of the product or service to increase economic profit. In other words, market pow ...

Conflict

About 90 percent of Indonesian Tin Association's (ITA) 28 members denounce INATIN: "We won't sell tin to that market." But the initial producer members above are the biggest tin producers with production at more than 50 percent. Peraturan Menteri Perdagangan R.I. Nomor 32/M-DAG/PER/6/2013 stated that tin block and other types of tin should be traded first at bourse before the tin can be exported, for tin block initial August 30, 2013, while other types of tin initial Januari 1, 2015.

References

{{Reflist Commodity exchanges