January 2012 | Base Metals
Looking for consolidation after such a big run-up: Tin - Market Analysis
This market has been the strongest performer of the all the base metals since the December lows. Falling stocks have helped, and so too has a favourable arbitrage for Chinese importers. However, we would be wary of chasing prices higher, especially with the demand outlook vulnerable and with Indonesia shipping its backlog. We expect prices to consolidate at lower levels now, but our forecasts have required an upgrade this week after such a strong start to the year.
What will happen in Indonesia?
While the impact of the ban on Indonesian tin imports put in place last September may not have had the desired effect on prices in the short term, the continuing fallout of the action is now doing just that, with prices in excess of $24,000/tonne. But while this price is close to what the Indonesian Tin...
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