Short Squeeze Fears Grip Tin as LME Says It's Watching Market [BNN Bloomberg (Canada)]
HONG KONG EX&CL UNSP/ADR (HKXCY)
NASDAQ:AMEX Investor Relations:
hkexgroup.com/investor-relations?sc_lang=en
Company Research
Source: BNN Bloomberg
This potent cocktail has put an often-overlooked metal, tin, at risk of a short squeeze after a price spike this month. Tin on the London Metal Exchange has surged in April, and its 25% advance in 2024 puts it well ahead of more closely-watched commodities like copper or crude oil. A swathe of different factors lies behind the metal's rapid ascent. Disruptions have hit tin supply in major producers Indonesia, Mynamar and Democratic Republic of Congo, while analysts say demand from electronics will expand as the world's AI boom demands more computing power. But market chatter in recent weeks has focused on the role of a single, bullish trader that's tightening its grip on LME tin. That entity is holding at least 40% of long positions on tin for May delivery, according to regular exchange data that doesn't identify holders. That level of concentration hasn't been seen since 2017, and equates to at least 90% of the volume now held in LME warehouses. Holders of short positions cou
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