Download PDF - ChartNexus
Download PDF - ChartNexus
Download PDF - ChartNexus
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Tin Market Review 2011-2012<br />
Recent<br />
maRket<br />
DevelopmentS<br />
While the London Metal Exchange<br />
(LME) cash settlement price in 2011 was<br />
USD26,025/tonne, the price range above and<br />
below this average during the course of the year was<br />
considerable. Prices peaked at over USD33,000/tonne in April<br />
2011 and briefly fell below USD18,000/tonne in September<br />
2011. This volatility continues the pattern of recent years. In<br />
line with many other commodity and financial markets, tin<br />
prices have had a roller-coaster ride, particularly in the last<br />
three years. In the global financial crisis which accelerated<br />
with the failure of Lehman Brothers in September 2008, LME<br />
prices were driven down to lows of some USD10,000/tonne<br />
in December 2008 - January 2009. However, by the middle of<br />
2009 demand was recovering and surplus stocks were being<br />
mopped up by China. Loose monetary policies employed by<br />
major governments to keep the world economy away from<br />
a threatened 1930s-style depression resulted in billions of<br />
dollars flowing into risky assets like metals, resulting in a much<br />
more rapid rise in prices in 2010 than anyone had predicted.<br />
Price in USD/tonne<br />
40,000<br />
35,000<br />
30,000<br />
25,000<br />
20,000<br />
15,000<br />
10,000<br />
5,000<br />
0<br />
Jan<br />
01<br />
LME stocks and prices, 2001-2011<br />
Jan<br />
02<br />
Jan<br />
03<br />
Jan<br />
04<br />
Jan<br />
05<br />
MALAYSIA SMELTING CORPORATION BERHAD (43072-A) • ANNUAL REPORT 2011 35<br />
Jan<br />
06<br />
Jan<br />
07<br />
Jan<br />
08<br />
Jan<br />
09<br />
Jan<br />
10<br />
Jan<br />
11
Change language