We note that tin price will continue to move in an upward trend in 2017, in
line with the continuing global tin deficit in 2017.
The global tin supply is expected
to be lower, due to a decline in China's tin output by nearly 50% YoY,
and closure of a number of mines in Myanmar (a trend since 2016).
These conditions are also supported by Indonesian government policies that restrict export quotas to suppress illegal tin mining. We believe strengthening tin demand will continue in 2017 in line with demand for tin as a basic material of electronic equipment.
In addition, tin demand growth from the US is expected to increase, driven by US government policy that encourages infrastructure projects in the country.
Note:
Riset BNI memperkirakan di 2017 akan terjadi deficit Timah Karena supply global akan rendah disebabkan oleh:
1. Output dari China akan turun hamper 50% YoY
2. Penutupan beberapa tambang timah di Myanmar
3. Kondisi Pemerintah Indonesia yang akan memperketat quota export untuk mencegah illegal mining
BNI menyakini bahwa permintaan akan Timah akan terus berlanjut di 2017 sesuai permintaan Timah untuk industry dasar di electronic. Sebagai Tambahan pertumbuhan permintaan di US diperkirakan juga akan meningkat dengan adanya policy pemerintah US yang akan mengenjot proyek infrastruktur.
TINS BUY TP 1100
by BNI (NI)
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