June 2009 | Base Metals
Looking for direction: Tin- Market Analysis
Tin is looking for fresh direction, and this is more likely to come from the other metals than from the tin market’s own fundamentals.
Weekly average LME tin prices declined by 2% for the second week running. Although the backwardation widened again last week, the overall trend still looks like tightness is easing, which is consistent with stock trends and the weak underlying demand environment. As such, we are starting to increasingly favour the downside in tin, at least when taking a 1-3 month view. However, this market is volatile so we would not rule out...
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