Joining tin in the recovery was nickel and copper, due to demand from industrial users. This is good news for tin producers, and very welcome, as dating back to last year, the metal’s price had declined by nearly half compared to 2013. This made tin the worst faring of all the base metals.
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This slight uptick could be short-lived as well with the results of a new survey from the Shanghai Metals Market finding that 30% of Chinese tin smelters are pessimistic over tin prices for the short-term. This weekly survey did represent some signs of growth, however, when compared to the previous several weeks’ results of 55% of tin smelters being pessimistic and 80% pessimistic for the last two weeks of November.
Where Does Tin Go From Here?
We will continue to keep a close eye on this metal, and have identified its main price drivers for 2016 as China GDP and PMI Data, the dollar to euro exchange rate and Myanmar tin mining.
How will base metals fare for the remainder of 2015 and into 2016? You can find a more in-depth tin price forecast and outlook in our brand new Monthly Metal Buying Outlook report. For a short- and long-term buying strategy with specific price thresholds: