JFX Controls 95 Per Cent of Tin Export Transactions

Transactions on the physical market for refined tin bars at the Jakarta Futures Exchange (JFX), or the Jakarta Berjangka Bursa (BBJ), have grown substantially over the past six years. JFX Chief Executive Officer Yazid Kanca Surya said that Indonesian tin exports traded on the exchange accounted for 95 per cent of total transactions.

“The development has been fairly rapid for the tin market at the JFX. Moreover, in recent months it has grown considerably. God willing, in the future we can go even further,” Kanca said during the opening of JFX’s Media Masterclass in Pangkalpinang, on Tuesday, 19 May 2026.

Kanca noted that the number of member participants in the JFX tin exchange has also grown significantly, with 76 members, comprising 40 selling participants, 25 international buyers and 11 domestic buyers.

“Many tin participants, especially from paying participants who joined as members, have done so because they realise that Indonesia’s tin production accounts for 25 per cent of global production. So the world has an interest even though we are only 25 per cent. To enter the Indonesian market, they know they must register with us as a member,” he said.

“Regarding the relatively low number of domestic buyers, Kanca said this is due to the limited number of projects and companies operating in tin downstream processing, even though the government has driven it.

“The problem with downstream processing plants is not as simple as people think: just building a plant is not enough. The hard part is finding new markets, so entrepreneurs must undertake market penetration around the world for at least 3 to 5 years. We support tin downstream processing as something that must start for the long term because the benefits will only be felt 5 to 10 years in the future,” he said.

Kanca added that tin transactions through the exchange have had a positive impact as tin pricing has become more competitive and transparent within a fair and orderly market mechanism.

“Export data and domestic sales are also more reliable and well documented, supporting the formation of a reference price for Indonesian tin. This is different from before the exchange: tin sales via long-term contracts were conducted directly, making them less transparent and exports not yet optimally regulated,” he said.