PETALING JAYA: Tin prices have hit an all-time high and are likely to remain strong, at least in the near-term, as power cuts in China persist.
A beneficiary of this is Malaysia Smelting Corp
(MSC) Bhd, which is currently trading at “cheap valuations of four times 2022 forecast price to earnings (PE) at the spot price of circa US$35,000 (RM146,230) per tonne,” according to UOB Kay Hian (UOBKH) Research.
As of Sept 24, the London Metal Exchange (LME) tin prices have risen to an all-time high of about US$37,000 (RM154,586) per tonne –an increase of 116% year-on-year.
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