The London Metal Exchange three-month tin price fell by 7% on Tuesday July 2, spanning an intraday range of $17,585-18,980 per tonne.
Traders and analysts described the move as a technically-led retreat for the metal. Some 1,289 lots of material changed hands by the afternoon kerb on the same day; the most tin traded since June 2017, with an approximate market value of $113 million. This sharp sell-off of tin constitutes 20% of global LME stocks, which now stand at 6,410 tonnes. Market opinion is divided on the cause of LME tin's price plummet, but participants broadly attribute it to a combination of technical factors...