This, "LME tin opened at USD 22,000/mt last Friday. The metal climbed to USD 22,001/mt."
Does not logically, ie. supply/demand, supply-risk, then follow for this to happen, "before tumbling to USD 21,300/mt on worries over Indonesia’s restrictions on tin ore export."
Chinese PMI dropping will account for some of the Sn's fall, as will the AUD rise. However, I believe that the AUD, and ASX are proxies for China action. Therefore China PMI drop causes AUD/ASX drop, making Sn in AUD fall.
The bearish side is mitigated if the above assumption is valid, while upside is boosted by a strong China, renewing strong interest in equities overcoming AUD appreciation.
LME supplies will then become the key factor. Supply and demand.
OV
CSD Price at posting:
7.9¢ Sentiment: Buy Disclosure: Held