LIVE FUTURES REPORT 19/08: LME tin leads losses in 1.8% dip; 4.5kt inflow tempers nickel

The three-month tin price on the London Metal Exchange was down by just under 2% during morning trading on Monday August 19, retesting its 2016 low amid a continued downtrend, while the largest delivery in LME nickel since May 2018 helped cool the metal’s elevated price.

Tin futures fell to an intra-morning low of $16,255 per tonne, with just 198 lots of metal exchanged as of 9:43am London time.  Yet the downturn comes after tin’s largest inflow in over 10 years had more than 1,600 tonnes enter LME-registered warehouses on Friday August 16, taking total on-warrant inventories back above 5,500 tonnes, after slipping below 4,000 tonnes last week.  News that Africa-based tin company Afritin are now producing tin concentrates out of the Uis mine in Namibia comes amid the company signing an off-take...

Published

Hassan Butt

August 19, 2019

10:21 GMT

London