Tin prices could hit $25,000 per tonne in 2014, according to Stephen Briggs of BNP Paribas.
“Demand growth will remain muted in 2014 at 3.5% at best, but supply growth too will be limited in 2014-15 on a lack of new mines and constraints on existing producers,” he said in a note. “We still expect deficits to drive tin to at least $25,000 per tonne and retain our long tin versus short copper recommendation.” The tin price has not been as strong as expected at BNP Paribas, and neither has it continued to outperform copper since mid-October, Briggs said, but it remains ahead of the base metals sector as a whole over the past several years. “In recent weeks, [the tin price] has, as expected, been volatile, trading in a [$2,000 range]. Recent price fluctuations have largely reflected the erratic evolution of trading on the [Indonesia Commodities and Derivatives Exchange] and volatile...
TRF Price at posting:
9.5¢ Sentiment: LT Buy Disclosure: Held
