London Metal Exchange tin inventory, which reached its lowest level in 30 years earlier this week, has received its largest inflow since November 2014.
More than 1,000 tonnes was delivered into LME-listed warehouses in Singapore on the morning of Friday January 25, taking the total LME tin stock count back above 2,000 tonnes. After today's morning inflow, tin's outright price dropped $500 per tonne against just 315 lots traded by 10:30am London time. The delivery goes some way to assuaging growing concerns of tightness in the refined tin market which hit a seven-month high price of $21,070 per tonne on Thursday, up 8.3% since the start of the year. The tin price continues to be the best performer of the LME base metals complex this year, as it was in 2018, due to a restriction of export flows from Indonesia, the world's second largest global exporter. LME stock drawdown Earlier this week,...