Tin Investors Betting on Higher Prices

Bloomberg reported tin traders probably added to wagers that the metal will gain as the number of outstanding contracts climbed.

As quoted in the market news:

Open interest in London Metal Exchange tin futures climbed by 1,129 lots, or 4.3 percent, to 27,469 contracts in the week ended May 24, the highest level since Feb. 10, according to LME figures. Each lot represents 5 metric tons of the metal used in packaging or to join metals together. The benchmark contract for three-month delivery advanced 4 percent in the period.

Click here to read the full Bloomberg report.