LIVE FUTURES REPORT 21/01: LME tin price hits 2014 high; aluminium, nickel gain on weaker dollar

Tin’s forward price on the London metal Exchange rose to near seven-year highs above $22,000 per tonne on Thursday January 21 and aluminium and nickel posted gains just short of 1%, supported during trading by a weaker dollar index.

The semiconductor metal rose to as high as $22,360 per tonne in the morning of Thursday, its highest price since July 2014.

Tin’s three-month price held at $22,000 per tonne on the 5pm close, rising by 1.7% from $21,633 per tonne on Wednesday at the same time.

“Our analysis shows that the LME tin price could rise to as much as $25,500 per tonne in the first quarter before experiencing a meaningful consolidation in the months ahead,” Fastmarkets analyst Boris Mikanikrezai said in a morning note.

“In our view, the LME tin price could fall to around $20,000 per tonne at some point in the summer months,” he...

Published

Ana de Liz

January 21, 2021

17:46 GMT

London