http://www.westmetall.com/en/markdaten.php?action=show_table&field=LME_Sn_stock
LME 4655, $19,875/ton (A$26,237/ton (0.7575))
BIG inflow into LME warehouses and continued fall in the tin price....this has now fallen slightly below the previous big fall in mid Nov '16....LME warehouse levels, whilst rising, are still very low by historical averages over the past 14yrs and warehouse stocks are still in a down trend for the past 6-7 yrs since '10....LME warehouse levels have averaged over 10,000 tons and tin prices have averaged over $20,000 for much of the past 6-7yrs....all previous sudden corrections in price over this period have led to large recoveries of the following days/weeks....will this be the same??, the main concern appears to be around the movement of refined tin out of china after the presumed removal of their 10% export duty.....this needs to be placed in the light of suspected/probable falling resource grades in both Indonesia and Myanmar (all the easy/higher grade stuff has been dug up)....further information over the coming months to confirm this may lead to Tin prices resuming their rise....coming into the festive season in china has demand fallen through the fall and this has led to the rise in LME warehouse levels/fall in prices??...
kind regards, SEAH.
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