LIVE FUTURES REPORT 21/01: LME tin price breaches $22,000/t; complex positive at start of Biden administration

The London Metal Exchange three-month tin price surpassed the $22,000 per tonne mark during early trading on Thursday January 21, while the complex as a whole moved up due to a weaker dollar, rising equity markets and bullish sentiment after Joe Biden’s inauguration as the 46th US president on Wednesday.

The semiconductor metal price rose to as high as $22,360 per tonne in the morning of Thursday. By 9am, tin’s three-month price had retreated slightly but remained above the key threshold at $22,060 per tonne, a 2% gain on Wednesday’s 5pm closing price. This follows a 2.2% increase on Wednesday, when it rose to $21,633 per tonne from Tuesday’s closing price of $21,163 per tonne. Tin has been on an upward trend since the start of the year, having closed at $21,049 per tonne on January 4, due to increased demand and...

Published

Ana de Liz

January 21, 2021

10:01 GMT

London