Indonesia: Tin Market 2024

Tin Market Size in Indonesia

In 2022, the Indonesian tin market decreased by -9.7% to $X, falling for the fourth consecutive year after three years of growth. Overall, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -29.3% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Tin Production in Indonesia

In value terms, tin production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by 29%. Tin production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Tin Exports

Exports from Indonesia

In 2022, overseas shipments of tin increased by 5.3% to X tons, rising for the second consecutive year after three years of decline. In general, exports, however, continue to indicate a noticeable setback. The pace of growth appeared the most rapid in 2017 with an increase of 26%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, tin exports soared to $X in 2022. Over the period under review, exports showed a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 118% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Singapore (X tons), the Netherlands (X tons) and South Korea (X tons) were the main destinations of tin exports from Indonesia, with a combined 49% share of total exports. India, Japan, the United States, China, Taiwan (Chinese) and Malaysia lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +24.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), the Netherlands ($X) and South Korea ($X) appeared to be the largest markets for tin exported from Indonesia worldwide, with a combined 48% share of total exports. India, Japan, the United States, Taiwan (Chinese), China and Malaysia lagged somewhat behind, together accounting for a further 41%.

India, with a CAGR of +38.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tin export price stood at $X per ton in 2022, increasing by 77% against the previous year. Overall, the export price showed a buoyant expansion. The growth pace was the most rapid in 2021 an increase of 90% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Malaysia ($X per ton) and Taiwan (Chinese) ($X per ton), while the average price for exports to China ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Tin Imports

Imports into Indonesia

In 2022, the amount of tin imported into Indonesia reduced dramatically to X tons, shrinking by -29% compared with the previous year's figure. Over the period under review, imports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2016 with an increase of 167%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, tin imports expanded markedly to $X in 2022. Overall, imports, however, recorded a measured expansion. The growth pace was the most rapid in 2016 with an increase of 186%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Japan (X tons), Malaysia (X tons) and China (X tons) were the main suppliers of tin imports to Indonesia.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +41.9%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest tin suppliers to Indonesia were Japan ($X), Malaysia ($X) and China ($X).

In terms of the main suppliers, China, with a CAGR of +83.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average tin import price amounted to $X per ton, surging by 61% against the previous year. In general, the import price enjoyed a prominent increase. The growth pace was the most rapid in 2018 when the average import price increased by 102%. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+116.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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