Tin: Pain for bulls nearly over

The purge continues
LME tin continues to trade poorly relative to its peers, suggesting that the purge of the overly long position held by speculative funds is not done yet. It is interesting to notice that only tin and zinc, for which money managers are relatively the most bullish among the complex posted a loss last week. Once the purge is over, however, we believe that tin prices are likely to rebound, at a marked and rapid pace.

Semiconductor sales contract further

The SIA shows that global semiconductor sales totalled $32.7 billion in June, down 15.5% sequentially and...