Even as stockpiling in China is set to raise the bar for the price of tin, miners in Peru may go on strike on March 15, which could bring on some pressure. Queensland Small Miners too have blamed the government for not adequately supporting small miners.
Unlike most of the other base metals, there is no growing tin surplus. Inventories held at the London Metal Exchange now sit at 8,820 tonnes, against a 52-week high of 11,430 tonnes. The potential is that a rebound in Chinese demand, coupled with the closing of mines in Indonesia, could trigger supply shortages.
London Metal Exchange tin prices leapt 9.8 percent after news that China’s Yunnan province would build a 1 million tonne stockpile of base metals, including 100,000 tonnes of tin. For full story, click here
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