Tin - Market trends and analysis

摘要

The expected pick-up in warrant cancellations and withdrawals from LME warehouses continues. Stocks have now fallen below 20,000 tonnes for the first time since August last year, and the total now stands 8,000 tonnes below January’s high. Moreover, as of yesterday, some 1,200 tonnes remain cancelled. This is 6.2% of total stocks, a ration that is on a par with aluminium and is higher than all other metals. If prices go lower before the rally again, we would expect to see more bargain hunting, as has been the case in previous price dips this year.