Reuters reported Indonesia’s new physical tin contract launched is struggling to attract enough liquidity to challenge the benchmark London contract.
As quoted in the market news:
The Indonesia Commodity and Derivative Exchange (ICDX) launched its physical tin contract (INATIN) in February with the aim of giving domestic producers greater control over prices.
In the first six months of trading, volumes for the INATIN contract, which is backed by the largest tin miner in the archipelago PT Timah, were often just one lot per day. The new contract registered only two trades in June and July.