FOCUS: Tin market unsure of price direction after two months' volatility

Physical tin market participants disagree over the next move in the price, with some telling Fastmarkets that it could rebound after a slide of more than 12% over the past two months although weak demand and erratic stock moves continue to dent momentum.

On the London Metal Exchange, the three-month tin price has fallen by 12.7% since June 5 from above $19,000 per tonne. The price is also down by more than 22% since peaking at a 2019 high of $21,550 per tonne on April 1.
It hit an intraday low of $16,735 per tonne on Monday August 5, its cheapest since June 6, 2016.
While the trend has been lower, the price’s trajectory has not been smooth. It slumped by around 7% on July 2 to below $18,000 per tonne for the first time in three years before a flurry of buying - believed to Asian fund activity - prompted a brief recovery.

“It’s nonsensical - there will have to be a correction soon,” one Europe-based tin trader told...


Hassan Butt

August 06, 2019

12:00 GMT