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Sky News reported tin outperformed the base-metal complex Tuesday, up 3.2 per cent at $US18,275/ton at the PM kerb close, as investors reacted to the metal’s tightening supply picture.
Sky News reported tin outperformed the base-metal complex Tuesday, up 3.2 per cent at $US18,275/ton at the PM kerb close, as investors reacted to the metal’s tightening supply picture.
As quoted in the market news:
Cancelled warrants in tin – a proxy for metal about to leave warehouses–continue to soar, accounting for around 54 per cent of total LME stocks of the metal Tuesday. This is likely a reflection of increased Chinese demand for the metal amid reduced supply from top tin exporter Indonesia, said Barclays analyst Gayle Berry.