Tin highlights/Demand has been exceptionally strong so far this year...

摘要

This time last month, tin looked poised to extend its upward continuation pattern by taking the next step higher to the 10,000 dollars/tonne level. The bullish technical chart, heavy fund investment across the entire complex, and supportive near-term fundamentals in the form of falling tin stocks and decent demand, certainly supported this view. However, the emergence of inflation fears and the widespread sell-off put an end to tin's ambitions as prices fell back with the rest of the complex. Technical selling saw official three-month tin prices reverse from 9,600 dollars/tonne on May 12 to 8,000 dollars/tonne 10 days later. The November-May uptrend support line was convincingly broken in the process, but the 100-day moving average and the top of the February-March sideways trading range provided support.