LIVE FUTURES REPORT 08/05: LME tin price drops 1.5%; Ali maintains strength

Base metals on the London Metal Exchange ended mostly lower at the close of trading on Tuesday May 8, with aluminium and zinc bucking the trend.

Tin’s three-month price was the most significant downward move in the complex, falling 1.5% and reaching a low of $20,865 per tonne during the afternoon. The drop comes after prices remained firmly above $21,000 per tonne throughout April, largely due to concerns over Indonesian exports and Chinese smelter operations.  “Considering the relentless rally in the dollar of late, the tin price has consolidated well and has had limited pullback. That said, with Indonesia resuming its tin exports in the coming weeks, there may well be more downside to be had,” Andy Farida, analyst at Metal Bulletin, said.   “Moreover, total SHFE stocks are on a steady rise again,...


Hassan Butt

May 08, 2018

18:30 GMT