Articles Tagged "news tin"

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.

Will China save the tin market?

The price of tin was given a nearly 6 percent boost last week from Yunnan province’s announcement that it would spend about $3 million on building a 100,000 tonne stockpile of tin. The tin stockpile is a part of a wider base metals stockpile plan meant to help support local metals smelters.