LIVE FUTURES REPORT 01/02: LME tin closes above $23,000; copper, aluminium struggle against rising dollar

The price of tin on the London Metal Exchange closed above $23,000 per tonne on Monday February 1, while aluminium’s forward price was under the most pressure from the rising US Dollar Index, dropping by more than 1% from last week’s closing prices.

Tin’s three-month price rose by 1.4% to $23,103 per tonne from Friday’s 5pm closing price of $22,779 per tonne, ending the day above the $23,000 per tonne mark for the first time since June 2014. The metal had breached the $23,000 per tonne mark a few times in the past week – setting new 2021 highs in the process – but had failed to hold the price at the close until Monday. The metal also recovered from a lower price on Monday morning, when it dipped by 0.95% to $22,600 per tonne from Friday’s 5pm closing price. More than 520 lots of tin were traded on the LME on Monday by 5pm, above last...

Published

Ana de Liz

February 01, 2021

18:48 GMT

London