Tin’s three-month price was down to $23,460 per tonne on March 1, its lowest 5pm closing price since February 12.
The metal was rallying until Friday, when it closed 4.4% lower at $25,664 per tonne, wiping out the gains it had made in previous trading sessions, which had culminated in a near-10-year high of $27,500 per tonne on Thursday.
This rally was in part driven by a lack of LME inventories and supply, which have started to abate. The total amount of tin in LME warehouses has increased by 24% since last Monday to 1,745 tonnes, and more than doubled since February 1, when they were at...
