Tin - Market trends and analysis

摘要

Tin seems to be sitting fairly comfortably on top of the +$1,000/tonne gain it has secured since early February. Despite sell offs in other metals, tin has held firm and concentrated on the process of consolidation, which may now take the market to lower levels. Front month spreads remain in wide backwardation, with cash to three-months at around the $40-50/tonne mark. No new supplies are in the pipeline, several Chinese smelters remain out of action, LME stocks continue to decline and Indonesian export policy is still subject to change.