Tin's forward spreads on the London Metal Exchange have narrowed from their widest backwardation since 2015 against a 50% stock rise in June.
The metal's cash/three-month spread recently traded in a backwardation of $45 per tonne, narrowing from its widest backwardation since 2015 at $320 per tonne. Additionally, the metal's nearby cash-July spread is now trading in a contango of $25 per tonne, making near-term business less costly. The LME's dwindling tin inventory has increased tenfold since the beginning of May, with on-warrant...