The man said "buy tin". I started clowning around, going on about a Barney Miller episode where a time traveler from the future says "Buy zinc". Then tin hits an all-time ( he said "In the history of the world") high. I'm not buying "in the history of the world".
(yet, I'd have to check).
That was the cryptic message from a reformed metals trader this afternoon. No rationale, no investment thesis, just "buy tin"....
Well, that was April 4. Here's the chart from Kitco Base Metals:
Here's why I remembered the zinc call.
From Bloomberg:
Chinese Stocks Drop the Most in Five Weeks; Dongfang Declines
Chinese stocks fell the most in five weeks, led by companies reporting fatalities and damage caused by the country's deadliest earthquake in three decades amid concern losses will increase.
Sichuan Hongda Chemical Industry Co., China's third-largest zinc producer, and Dongfang Electric Co., the nation's second- biggest maker of power equipment, both slumped by the 10 percent daily limit....MORE
A contrary report from SteelGuru:According to Galena Asset Management Ltd, the rally in tin, the biggest on the London Metal Exchange this year, is nearing an end because Chinese producers will export more to take advantage of record prices....
