LME inventories smashed again tonite ,down 270t . Surely the fundamentals will kick in at some stage soon .Tin is not like the other metals that have large rising stockpiles . Hightrax ,good to hear from you again .I suspect its mostly deleveraging of funds that have got caught in large metals positions .Once the dust settles Tin will come roaring back.The Indonesian currency hasnt been too good to them unlike the Aussie ,so they are definitely feeling it worse than us .They are struggling with lower tin grades ,and rising mining costs to cap off the perfect storm .Not sure if they will be capable of replenishing LME stockpiles when this is all over .
MLX Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)