LIVE FUTURES REPORT 01/03: LME tin price down 8.6% to $23,400

The price of tin fell throughout the day on Monday March 1 to its lowest in two weeks at the close of trading on the London Metal Exchange, while the fortunes of the rest of the base-metals complex was mixed following strong losses on the previous Friday.

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...

Published

Ana de Liz

March 01, 2021

18:08 GMT

London