Technical rather than fundamental sell-off While the volatility in tin prices has been surprisingly low until recently, the re-emergence of volatility is a natural reflection of the poor liquidity conditions of the small tin market. Accordingly,...
The LME 3M tin price registered a 4.5% loss last week after a sell-off of 4% on Friday – the largest percentage drop since August 15. That made tin the second-worst performer on the LME after nickel (-4.6%).
The sharp decline in LME open interest last week suggests that the tin’s sell-off was primarily driven by long liquidation rather than short selling.
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