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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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August 2019 | Base Metals


Tin: Pain for bulls nearly over


While tin prices have remained weak of late, we think that they are moving closer to major support. Although tin has struggled relatively more than its peers in this negative macro environment, our supply/demand estimates continue to point to a deficit this year, suggesting that a firmer tin price is ultimately needed to correct this imbalance. In this context, we reiterate our view that tin prices are due to move higher into year-end.

The purge continues
LME tin continues to trade poorly relative to its peers, suggesting that the purge of the overly long position held by speculative funds is not done yet. It is interesting to notice that only tin and zinc, for which money managers are relatively the most bullish among the complex posted a loss last week. Once the purge is over, however, we believe that tin prices are likely to rebound, at a marked and rapid pace.

Semiconductor sales contract further

The SIA shows that global semiconductor sales totalled $32.7 billion in June, down 15.5% sequentially and...

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