Natixis sees 2011 average Sn of $29,000/mt

摘要

Natixis said Tuesday it believes that the nstructural tightness of tin supply will, by nand large, remain in place over the next ntwo years. As such the French bank pre-ndicts a 2011 average price of $29,000mt, representing a 42% year-on-year nincrease and over 80% higher than the nlevel seen at the start of 2010. “That nthis price is below the current spot price nreflects our concern that tin prices might nbe particularly vulnerable to any economic nsetbacks, given the market’s high burden nof expectations. Thereafter, we expect nprices to rise to an average of $30,000mt over 2012 as the market remains in ndeficit,” the bank said in its Commodity nMarkets’ First Quarter Metals Review. n“The exceptional surge in tin prices in nrecent months leaves the market vulner-nable to a correction. However, the posi-ntive underlying supply-demand balance nfundamentals suggest that the path of nleast resistance in the short-term remains nupwards,” the report added.