Super rally under way Last week’s rally was driven primarily by fresh buying, judging by the significant increase of 1,666 lots or 9% in open interest. And the rise in LME tin prices in the second half of last week was underpinned by hefty trading volumes, signalling an increased conviction from market players to join the party. But considering the notable tightening in nearby spreads (the...
LME tin prices accelerated their appreciation last week, gaining of 5.2%, making tin the second-best performer among the base metals, after nickel (+7.5%). The LMEX was up just 1.6%. LME tin is already up 9% in the year to date.
What is behind the move?
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