Welding: the price of tin rose beyond 40 thousand dollars after the Jakarta earthquake
Reuters reports That at a stakeholder meeting at Indonesia’s central bank, Jokowi, as the president is known, used the example of nickel as a success story to position the country as a hub in the burgeoning electric car industry:
“We started with nickel. Maybe next year, we’re calculating, we might stop exporting bauxite. Next year we might be able to stop copper, and next year tin.”
“We want to export these resources as semi-finished goods or as finished goods, because what we want is added value.”
The nickel ban is currently before the World Trade Organization after the European Union complained, and while it is baffling the markets, Indonesia’s strategy as the world’s number two producer in terms of tin exports is not clear. Jakarta has since 2018 banned exports of unprocessed tin that requires the metal to be sold in its refined form with a content of at least 95%.
Pressure on tin markets Built since the beginning of the epidemicThe price has doubled since this time last year.
In her latest industry report, Market Analyst Fitch Solutions He said the global tin supply rate has recovered from the COVID-19 pandemic and has been largely outpaced by the rapid recovery in demand. Tin is used in electronics by sellers in semiconductors, a sector that has seen a huge rise in demand during the pandemic due to increased sales of medical equipment as well as household and personal devices.
The resulting reduction in global stocks of refined tin has continued to drive prices up year-to-date, leaving the market highly exposed to price hikes during China’s energy crisis, Fitch He says. With tin welding being a major part of photovoltaic cells which are the main components that make up solar panels, the demand during China’s energy crisis soared sharply.