Thanks Rocky
officially looking over my shoulder!
I bought a few ANW! yesterday, a Tin producer with a nice cobalt kicker
Also lucked into PNX! after a nice alert here can't remember who but thanks!
REUTERS - Tin has hit its highest price since January 2015 after inventories dwindled while nickel has struggled to advance as investors assess the likely impact of mine suspensions in top ore exporter the Philippines.
Falling shipments from leading tin exporter Indonesia and question marks over whether a surge in mining in Myanmar can be sustained has sparked a scramble for the metal used mainly in solder for the electronics industry.
"On-warrant" tin inventories in warehouses approved by the London Metal Exchange, or metal not earmarked for delivery and available to investors, has dropped to 1,625 tonnes, the lowest since 1998, LME data showed.
Benchmark tin prices on the LME closed up 0.6 per cent at $US19,850 a tonne after touching $US19,950, the highest since January 2015. Tin has gained 37 per cent this year making it the second best performing LME metal behind zinc.
One analyst, however, said the tin rally may be capped if inventories in warehouses that are not regulated by exchanges appeared on the market.
"There is a good fundamental reason why the tin price has risen this year, but the market may not be as tight as it would appear from the exchange data," Capital Economics senior commodities economist Caroline Bain said.
"I suspect that there is more metal out there than we can see on the exchanges. Certainly, last time the tin price had a big rally, stocks started to fill up again," she said.
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