Nickel, Tin Spurts On Global Cues
Business Standard reports that tin and nickel saw a sudden jump in prices today in India after steady trading in London.
Articles Tagged "london"
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.
Production Cutback Pumps Tin Price
Tin prices gained a whopping 18 per cent on the LME in the month of April, despite a huge gain in LME inventories by almost 15 per cent. Global production, however, is expected to fall 6.5 per cent by 21,000 tonnes, to 304,500 tonnes in 2009. According to the International Tin Research Institute demand for tin is expected to fall by 10.5 per cent in 2009 amid the global economic crisis. Hence, the market could be in surplus by 5,000 to 10,000 tonnes in 2009.
Kuala Lumpur Tin Market closed near six-month high
The Kuala Lumpur Tin Market has closed at near six-month high yesterday, buoyed by strong demand from European purchasers and sharp gains on the London Metal Exchange overnight. For full story, click here
Kuala Lumpur Tin Market closed at 12,220
The Kuala Lumpur Tin Market has closed lower yesterday in line with the fall on the London Metal Exchange. At the close yesterday, the price of tin on the KLTM dropped by US$280 to US$12,220 per tonne while on the London Metal Exchange, it fell US$215 to US$12,395 per tonne. For full story, click here
Tin Gets A Gentle Nudge
The metals markets got a surge of heat with world leaders committing $1.1 trillion to combat global recession. Tin was up at $10,950 a tonne, its highest since March 11, from $10,450.
Tin prices fell 25% in third quarter
The base metals are down for the year, with tin and nickel suffering the most. Each has lost more than 25% in the last quarter. After Congress voted down the $700 billion bailout plan, tin prices hit their weakest level since September 18, dropping 6.3% to $16,680 on the LME.
Tin jumps on short covering
Tin jumped more than 5 percent to $18,800 a tonne on a short-covering on London Metal Exchange. For more information, click here
Will Congo tin exports resume?
The Association of Exporters of Minerals of North Kivu is expecting a decision tomorrow from the Democratic Republic of Congo’s Mines Ministry and Finance Ministry on recent increases in traders’ tax liabilities. In reaction to the tax hike, exporters in North Kivu, responsible for 75% of the country’s tin shipments, halted exports.
