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22nd November 2022

Stock Digest - Malaysia Smelting Corporation Bhd - Dragged Down By Weaker Tin Prices

We gather that the extended normalisation of tin prices appears to found stability early-November 2022 (c.USD16,900/MT) before staging rebound above USD20,000/MT over the past week in anticipation of recovery in demand following the potential easing of Covid-19 restrictions from China. Still, we think that tin price may remain soft due to weak demand from the consumer electronics sector. For now, we have revised our tin prices projection lower to an average of USD20,000/MT for the rest of the year and an average of USD25,000/MT for 2023f.

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