Tin - Market trends and analysis

摘要

A flaring backwardation has been the most notable feature of the tin market in recent weeks. However, it now appears to be easing. The cash to three-month backwardation ballooned to $150/tonne in mid-August, but averaged $45/tonne last week and was in a $75/tonne contango on Friday. Meanwhile, the cash to 15-month and three-month to 15-month backwardations hit $600-800/tonne at their widest in mid-August, but have narrowed to $450-550/tonne.