17:20 BST udpate
Category I LME member Triland had this to say on nickel and tin in a note on the latest Commitment of Traders Report:
"Even though nickel took a turn to the negative last week, fund managers reduced their total net long positions by 10% to a total of 11,850 lots. It will be interesting to see what happens this week, as the sales pressure increased substantially out of China. Physical users were on the buy side, as cheaper prices triggered some consumer interest.
"Tin once again saw minimal change in [open interest] and fund/trade exposure, reflecting indecisive price action. Traders, hedgers and punters are sitting on their hands and leaving LME tin to prepare its next move, it would seem."
Five Commitments of Traders Reports are published by the LME by the close of business every Tuesday.
Yesterday's big gainers, nickel and tin, were the only two base metals to lose...