Indonesian Tin Producers Propose Alternative to LME

Bloomberg reported Indonesian tin producers are backing a physical contract as an alternative to the London Metal Exchange.

As quoted in the market news:

The Indonesia Commodity & Derivatives Exchange, which trades palm oil and gold, plans to introduce the new contract next week, offered in lots of 5 metric tons and priced in dollars, according to a statement today. Trade will start Dec. 15, according to Megain Widjaja, exchange chief executive.

Click here to read the full Bloomberg report.