One investor seems to be buying up most of the tin traded on the LME. Sparking unease among traders, several questions are doing the rounds - are the prices being pushed up artificially? Why the big position? Who benefits?
Lots of positive sentiment in the air. Rio Tinto, the world's second-largest miner, said it saw signs of recovery in China and it expected aluminum AL-FT prices to rise in the second half of 2009. Indonesia's tin consortium, Bangka Belitung Timah Sejahtera too expects a 20-30 per cent increase in its monthly production of 2,000 tonnes during the Muslim fasting season which starts on Saturday.
Wednesday, October 14, 2009