Hopefully this article rings true and we will be set to rise. The 3-month tin price is back up to $20,900, and heading in the right direction. That sub-7 cent sell is ridiculous, and must surely be from someone who is misinformed. Congrats to the buyer.
Macquarie Commodity Research http://www.csdtin.com.au/downloads/Tin%20News/2013/Macquarie_Tin_May%202013.pdf
Tin prices have tumbled 15% since January, partly due to a combination of strong Indonesian production and Chinese consumer de-stocking. In our view both negative factors are likely to abate in the medium term; April trade data from Indonesia showed a 13% MoM contraction in exports, while we expect the fall in prices on the LME to reignite Chinese refined import demand. Inventories across the supply chain still appear stretched, and with a market deficit likely to re-emerge in the medium term we think the current price weakness provides a good opportunity to go long.
;-)
Enjoy.
CSD Price at posting:
6.4¢ Sentiment: LT Buy Disclosure: Held