LIVE FUTURES REPORT 23/02: Base metals prices end on weak footing; only tin closes higher

Tin was the only base metal to close in positive territory on the London Metal Exchange on Friday February 23, with the rest correcting lower.

The three-month tin price ended $75 per tonne higher than the previous close, with unchanged all week at record lows of just 1,860 tonnes. “Tin’s fundamental backdrop remains positively skewed after the World Bureau of Metal Statistics (WBMS) reported a market deficit of 17,700 tonnes in 2017,” Metal Bulletin analyst Andy Farida said. “The LME tin price remains sensitive to logistical problems, such as the most recent delay in the export permit from Indonesia, and was further hampered by poor weather conditions and the Lunar...

Published

Alice Mason

February 23, 2018

17:26 GMT

London