1. Dollar to Euro exchange rate
2. Chinese tin ore imports
3. Indonesian export quantities
4. Global production
Tin remains the “biggest loser” of all the industrial metals this year (with the exception of rare earth metals, currently not covered in this forecast report) falling 21% since the beginning of the year.
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The feared “Indonesian raw ore export ban” proved inconsequential for tin. In fact, Myanmar has provided ample quantities of tin ore to China and for the first time in 7 years, China has become a net exporter of tin.
That development in combination with the bear commodities market in general and the strong dollar, continue to batter tin prices. However, we could see tin recover slightly in the short term.
Three-month tin closed the month of May at $15,540/mt, down about 2.5% from last
month, though trading range-bound. Tin remains in a long-term down trend and continues to show nothing but price weakness. However, prices have fallen hard and fast for tin throughout 2015, so we could see some price support in the short to medium term.
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