Articles Tagged "aluminum"

Nervous About The Hot Tin Price?

Tin touched $15,400 a tonne on Thursday, the highest since the middle of June. Focus though is on a large position holder, which has bought tin for delivery in September and sold it for December. Worries are that those who sold to the entity will be caught short. Investors are also worried whether the stock market surge is only a catch-up rally, or is it time to pocket some recent gains in anticipation of turbulence ahead if the economic recovery fizzles? While some analysts say gains are justified given the horrific depths to which indexes sank in March, others are growing nervous.

Active Interest Could Spur Rally

Commodities like tin, rubber and steel could be heading for a short-term rally in the near future bolstered by active buying interest from institutional and fund managers on most major world commodities, dealers said. Manufacturers worldwide were seen building up inventories to take advantage of the current weak US dollar, traders said. The weak greenback makes commodities attractive as a hedge against inflation.

Demand for tin shoots up

It couldn't have come at a better time. Sentiment on the LME metals complex is still trapped between the conflicting signals coming from East and West, resulting in choppy, consolidatory price action. However, downside momentum has stalled across the board with predators now looking for "relative value" plays.