Reuters reported that tin rose on Monday as investors’ confidence in global growth outlook increased after data showed strength in the U.S. and China economy.
As quoted in the market news:
No base metal is in backwardation right now as contango markets prevail. Underlining this fact is that LME stocks are increasing for metals such as copper, nickel and tin.”
‘Backwardation’ refers to a structure in the market where nearby prices are higher than forward ones, signalling tight supply. Contango is the opposite.