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MARKET TALK: LME Tin Supply Concern Ease, Further Downside

Thursday, Apr 19, 2007
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LME tin falls nearly 9% overnight to 2-and-a-half week low $13,700/ton on easing supply concnerns after Indonesia approves export permits for 2 more tin smelters, says trader, including Indonesia's second-largest tin producer PT Koba Tin. Adds tin's close below 30-day moving average to encourage further profit taking, should prices stay at or below current levels. First support at around $13,095, but a break below to encourage technical selling down toward $12,475. LME 3-month tin unchanged on yesterday's PM kerb at $13,700.

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