Author: Paul Ploumis15 Oct 2014 Last updated at 07:53:47 GMT
LONDON (Scrap Monster): According to all the estimations and the forecasts were to be on the hike now, as there was a deficiency in supply due to the ban from Indonesia and analysts also expected tremendous hike in demand, but breaking up all the expectations LME showed that tin has been slumping for last three and a half month.
Asian and European traders stated that, the demand from the solder producers have declined to a large extended so has the demand from the electronic firms and European tin plates, moreover that, China has increased the country’s domestic production.
A European tin trader stated that, the tin business is at its lowest he has seen in 45 years of his tin business. He also added that, the traders who brought piles of tin inn the hope of a surge in the tin price will have to sell the inventory in much lower price.
According to the analysts, the price of nickel at London Metal Exchange should have been 23,135 dollars per tonne in the 2014, but unfortunately the present price of nickel is recorded to be 20,150 tonne.