Tin Price Forecast, November 2016: A Bull Narrative from Lacking Supply-Shanghai Metals Market

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Tin Price Forecast, November 2016: A Bull Narrative from Lacking Supply

Industry News 10:09:39AM Nov 16, 2016 Source:agmetalminer

by Kyle Fitzsimmons on NOVEMBER 15, 2016

Tin climbs to a two-year high.

While tin prices should be feeling the pressure from a stronger U.S. dollar, they are instead flexing their muscle and showing resiliency by trending higher.

According to a recent report from the Economic Calendar, the market’s unfortunate supply situation is being trumped by the fact that domestic currency has been trading at a multi-month high.

Want a short- and medium-term buying outlook for aluminum, copper, tin, lead, zinc, nickel and several forms of steel? Subscribe to our monthly buying outlook reports!

Donald Levit wrote: “The tin market is undergoing a major supply chain adjustment as Indonesia is restricting tin exports. The country exported only 38,342 (metric) tons of tin during January-August this year, down 16% from a year ago. While the price response in tin encouraged Chinese tin smelters to step up production earlier in the year, the government’s environmental crackdown impacted some tin production.”

Disappearing Supply

Our own Raul de Frutos echoed those sentiments, writing recently that industrial metals like tin (and also zinc and nickel) are riding the bull narrative due to a supply shortfall this year.

de Frutos wrote: “For others like aluminum and lead, the supply deficit isn’t obvious, yet, but the few capacity cuts were enough for bulls to push prices higher in the face of strong demand. Lastly, bulls are even chasing copper.”

Tin’s rally to close out October continued into November as the metal hit a two-year high in terms of prices.

 

Price

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#1 Tin Ingot
Apr.19
146750.0
-500.0
(-0.34%)
Tin Concentrate-Yunnan
Apr.19
131500.0
-500.0
(-0.38%)
Tin Concentrate -Hunan
Apr.19
134750.0
-500.0
(-0.37%)
Tin Concentrate-Jiangxi
Apr.19
134750.0
-500.0
(-0.37%)
Tin Concentrate-Guangxi
Apr.19
134750.0
-500.0
(-0.37%)

Tin Price Forecast, November 2016: A Bull Narrative from Lacking Supply

Industry News 10:09:39AM Nov 16, 2016 Source:agmetalminer

by Kyle Fitzsimmons on NOVEMBER 15, 2016

Tin climbs to a two-year high.

While tin prices should be feeling the pressure from a stronger U.S. dollar, they are instead flexing their muscle and showing resiliency by trending higher.

According to a recent report from the Economic Calendar, the market’s unfortunate supply situation is being trumped by the fact that domestic currency has been trading at a multi-month high.

Want a short- and medium-term buying outlook for aluminum, copper, tin, lead, zinc, nickel and several forms of steel? Subscribe to our monthly buying outlook reports!

Donald Levit wrote: “The tin market is undergoing a major supply chain adjustment as Indonesia is restricting tin exports. The country exported only 38,342 (metric) tons of tin during January-August this year, down 16% from a year ago. While the price response in tin encouraged Chinese tin smelters to step up production earlier in the year, the government’s environmental crackdown impacted some tin production.”

Disappearing Supply

Our own Raul de Frutos echoed those sentiments, writing recently that industrial metals like tin (and also zinc and nickel) are riding the bull narrative due to a supply shortfall this year.

de Frutos wrote: “For others like aluminum and lead, the supply deficit isn’t obvious, yet, but the few capacity cuts were enough for bulls to push prices higher in the face of strong demand. Lastly, bulls are even chasing copper.”

Tin’s rally to close out October continued into November as the metal hit a two-year high in terms of prices.