Tin relatively more resilient We think that the modest decline in tin...
After a notable loss of 7% in Q2, LME tin has proven more resilient than its peers since the start of Q3, down roughly 1% vs a drop of ~7% in the LMEX. The sharp sell-off in the LMEX is due to large price declines in lead (-11%), zinc (-10%), nickel (-10%), and copper (-7%).
Although LME tin ended in negative territory last week, it rebounded notably in the second half of the week after pushing to a low of $19,110 per tonne on July 19, its lowest since December 2017. This may suggest that some investors view the current tin price as attractive and thus, started buying the dips.
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