LIVE FUTURES REPORT 30/04: Further gains for LME tin, lead; copper consolidates

Futures prices on the London Metal Exchange were mixed in the morning of Friday April 30, with tin, aluminium and lead all posting gains, while copper fell from the $10,000-per-tonne high achieved on Thursday.

Tin’s three-month price rose the most on Friday morning, with a 1.3% gain to $28,835 per tonne.
It is currently at its highest level since August 2011 and has recently been spurred on by the news that MSC, the world’s third-largest refined tin producer, will not be returning to pre-pandemic smelting capacity until the end of the year

Tin’s cash price neared the $32,000 per tonne mark on Thursday, with the cash-to-three-month spread consequentially moving to a backwardation of above $2,300 per tonne, from a $1,255-per-tonne backwardation at the start of the week. 
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Published

Ana de Liz

April 30, 2021

09:19 GMT

London