Thinking about fundamentals, information about the tin market is relatively scarce, but saw Yunnan Tin smelter which is worlds largest was temporarily shut down a month or two ago, due to impact of Covid lockdowns- pretty extreme in China. That would have taken a lot of refined tin off the inflow to the market thus extreme spike in prices? Now they are likely back in action and are pushing to clear backlog of ore concentrate for smelting which is having the opposite effect- again temporary. Thus the sudden drop in price-from too high to too low for the normal situation, which is slowly tightening. Sound reasonable?
MLX Price at posting:
49.5¢ Sentiment: Buy Disclosure: Held
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