Indonesia to launch ICOMEX commodity exchange on Jan. 4, 2027 with tin and ferronickel

Indonesia plans to inaugurate a new commodity exchange, ICOMEX, on Jan 4, 2027, launching with tin and ferronickel contracts. Sarjito, the exchange’s chief supervisor, presented a parliamentary slide showing that state-owned miners will be among the first traders. The move aligns with President Subianto’s agenda to expand governmental oversight of the country’s vast natural resources, a stance reinforced by Prabowo’s recent speech urging the nation to retain its assets rather than sell them cheaply.

Friderica Widyasari Dewi, chair of the Financial Services Authority (OJK), said the exchange aims to curb under-invoicing and eliminate transfer-pricing in commodity exports. OJK plans to issue the necessary regulations on Sept 17, while the exchange will be legally created the same day and receive its trading licence on Jan 1. Officials expect the platform to tighten control over export revenues and improve market transparency.