LIVE FUTURES REPORT 24/03: LME tin price tops gains in 5% bounce; copper regains ground

The three-month tin price on the London Metal Exchange improved during morning trading on Tuesday March 24, wiping out Monday’s losses in a 5% rally, while copper futures similarly found support in a steady push above $4,800 per tonne.

Tin’s underlying price on the LME was recently seen at $13,880 per tonne, climbing from Monday’s closing price of $13,250 per tonne, while turnover was high, with more than 200 lots exchanged as of 10am London time. Yet the strong buying also came amid a continued liquidation of futures positions for LME tin, with open interest dipping below 19,000 total positions overnight, reaching its lowest level since July 2019 at 18,882 open positions. Meanwhile, physical participants dealing in tin continue...

Published

Hassan Butt

March 24, 2020

11:24 GMT

London