Tin Prices Surge 34%, Boosting Indonesia’s Tin Downstream Industry
Thu 04 Jun 2026, 16:28 PM
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The sharp increase in global tin prices during the first quarter of 2026 has provided a positive boost for Indonesia’s tin industry and created new opportunities to accelerate downstream development within the country.
The average Cash Settlement Price (CSP) for tin on the London Metal Exchange (LME) reached USD 48,679.68 per metric ton in the first quarter of 2026, representing a 34.7 percent increase from USD 36,134.37 per metric ton in the corresponding period last year.
On the demand side, approximately 50 percent of global tin consumption continues to be driven by the solder segment, which is closely linked to the semiconductor and electronics industries. Demand prospects remain robust, supported by the rapid growth of artificial intelligence (AI), data center expansion, energy storage development, and ongoing investment in power infrastructure.
According to the CRU Tin Monitor, global refined tin production totaled 90,645 tons in the first quarter of 2026, while consumption was estimated at 89,036 tons, indicating a relatively balanced market.
Against this backdrop, PT Timah (Persero) Tbk (TINS), a member of state-owned mining holding company MIND ID, reported revenue of Rp5.47 trillion in the first quarter of 2026. The figure surged 160.5 percent from IDR 2.10 trillion recorded in the same period a year earlier.
Lukman Leong, Chief Analyst at Doo Financial Futures, attributed the stronger performance to improving conditions in the global tin industry.
“Tin sector performance has been supported by rising global tin prices, improved export activity, higher production levels, operational efficiencies, and lower cost burdens in several areas,” he said.
Operationally, TINS produced 6,312 tons of tin ore (Sn) during the first quarter of 2026, an increase of 96 percent compared with 3,225 tons in the same period last year.
Refined tin production also rose 82 percent to 5,630 metric tons of tin from 3,095 metric tons a year earlier. Meanwhile, tin metal sales climbed 113 percent to 6,009 metric tons, up from 2,824 tons in the first quarter of 2025.
The company also recorded a significant increase in its average selling price for tin metal, which reached USD 49,221 per metric ton, up 51 percent from USD 32,495 per metric ton in the same period last year.
Exports continued to dominate sales, accounting for 97 percent of total revenue. China remained the largest export destination, representing approximately 48 percent of the company’s overseas sales.
Amid the stronger market environment, MIND ID has continued to promote the transformation of Indonesia’s tin industry through the expansion of downstream processing initiatives. Tin is no longer viewed solely as an export commodity but as a strategic resource for the development of higher-value industries.
Expanding Downstream Products
The development of downstream products—including solder, tin chemicals, and electronic materials—has become a key focus area aimed at strengthening Indonesia’s position in global supply chains while increasing domestic value creation.
Consolidating the National Tin Industry
As the controlling shareholder of TINS with a 65 percent ownership stake, MIND ID serves as the consolidator of Indonesia’s tin industry, seeking to ensure that the country’s strategic resources are managed in an integrated manner from upstream mining activities through downstream processing and manufacturing.
Through this strategy, downstream development is expected to strengthen the competitiveness of Indonesia’s tin industry while enhancing the mining sector’s contribution to the national economy.
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