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Tin Bull Market Extends Into Q4, Good News to MALAYSIA SMELTING CORPORATION?
Tin prices saw a boost this week due in part to reduced output from Myanmar, a key producer of the metal.
According to a report from Reuters, other base metals including zinc, also climbed this week due in part to a weaker dollar and strong credit data from key consumer China.
“China released new credit data, which was better than expected,” Xiao Fu, head of commodity market strategy at Bank of China International in London, told the news source. “The new yuan loans hit the highest level since June, so that’s helped to lift sentiment.”
It’s also worth noting that tin was the top performer on Tuesday's London Metal Exchange this week following reporting from senior mine officials in Myanmar, China’s top supplier of ore, that production at key operations was falling drastically and deposits could be depleted in the next several years.
Tin Bull Market Extends Into Q4
Earlier this month, our own Raul de Frutos wrote that industrial metals rose in the first half of the year, then subsided in Q3, but momentum is beginning to tick back up.
“The industrial metals exchange-traded fund, which tracks the performance of four base metals, recently hit a 14-month high,” de Frutos wrote. “This is important because when money is flowing into the industrial metals complex, every metal gets a tailwind. Recently, we witnessed particularly strong momentum in lead, zinc and tin.
It is definitely a good news to Malaysia Smelting Corporation Bhd as world's 2nd largest fully-integrated producer of tin metal.
Source: http://www.investing.com/analysis/weak-usd-drives-base-metals-200159519
Other interesting topics:
Industrial Metals Bull Market Extends Into Q4
Tin price in London Metal Exchange (LME)
Tin price in The Kuala Lumpur Tin Market (KLTM)
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Discussions
3 people like this. Showing 15 of 15 comments
Tin price in London Metal Exchange (LME)
http://www.investing.com/commodities/tin
Tin price in The Kuala Lumpur Tin Market (KLTM)
http://www.mtpma.org.my/index.php/statistic/2014-07-07-04-56-57
2016-11-22 15:36
As world's 2nd largest..., 90% of revenue was from smelting. It's mainly a smelter, not a miner. Readers may have the wrong impression.
The group doesn't profit from tin prices directly, though it has a modest-sized tin mine, which does.
2016-11-22 15:39
From the movement of tin price in past 3 years, tin price did have direct impact over the bottom lines of MSC, but one has to study the accounts of MSC to determine if it is correctly expected.
http://klse.i3investor.com/files/my/blog/img/bl2510_msc_results_vs_tin_price_movement.jpg
2016-11-22 15:47
Ok, moneySIFU, I agree, it's co-related. I just meant not direct in the sense its main business is not a miner selling tin ore. That's the impression people may have if we call it a tin producer.
2016-11-22 16:09
hmm.... fully-integrated producer of tin metal, I actually copied from MSC website, ronnietan, please see below:
Today, we are one of the world’s largest, fully-integrated producer of tin metal.
http://klse.i3investor.com/files/my/blog/img/bl2510_msc_website.jpg
http://www.msmelt.com/abt_cp.htm
2016-11-22 16:21
they produce tin........be it raw material from them or import. Like steel also. When steel price good, raw material up also never mind, buy high, sell higher.
2016-11-22 16:24
I get what you mean, ronnietan, it is always good to invest only if we know about the business or its future
2016-11-22 16:25
i think MSC invest a lot of money in African country to get the raw material, similiar to China invest in Myanmar...
2016-11-22 16:32
By looking at the development, it is looking good, or may be should follow those reports: cautiously optimistic :)
2016-11-22 17:05
One of the cheapest....low risk high uncertainty, mohnish pabrai stock :)
2016-11-22 17:11
Other global players up 10%-13% in one day, MSC only 1%, more to come
http://www.investing.com/equities/malaysia-smelting-corp
-------------------------------------------------------
360Capitalist Globally, Tin stocks heading higher...
http://www.investing.com/equities/timah-tbk
http://www.investing.com/equities/alphamin-res-balance-sheet
2016-11-22 17:31
Very positive development for MSC, thank you for sharing such good news, moneysifu.
2016-11-22 17:38
Seem like Tin price is heading to previous peak USD21,840, good for MSC.
http://www.investing.com/commodities/tin
2016-11-22 17:40
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
moneySIFU
The movement of tin price in the past has largely determined the results of MSC. Please view my working below for clearer picture
If the tin price was moving up, the company were making profit
If the tin price was moving down more than 4%, the company would likely make loss
http://klse.i3investor.com/files/my/blog/img/bl2510_msc_results_vs_tin_price_movement.jpg
2016-11-22 15:34