East Asian headwinds guide tin market - Sucden
Apr 27, 2012 | 07:39 AM
Restocking and destocking cycles by China and government intervention in Indonesia are causing price oscillations in the tin market, according to traders at Sucden Financial.
“A slowdown in global growth could [also] damage the demand outlook more than is currently written into the forecasts,” they said in their quarterly metals report.
There have been rumours that Indonesia could look to cut tin exports to try to bring prices above $30,000 per tonne, but following the failure of a similar move in late 2011 aimed at bringing levels up to $25,000, Sucden has said this is unlikely.
The tin market’s fundamentals are strong overall, Sucden said, recording a deficit of 5,200 tonnes in 2011 – the third consecutive year of deficit.
“Over these three years, the market has....
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