The three-month tin price on the London Metal Exchange topped the base-metals complex at the close of trading on Wednesday March 4, climbing by just over 1.4% to close at its highest level since January 23, but zinc futures failed to gather support over the afternoon.
Tin's outright price on the LME closed at $16,925 per tonne, while the metal reached an intraday high of $17,160 per tonne but failed to settle above the nearby support level. Despite this, tin futures climbed from an intraday low of $16,750 per tonne.Turnover was high, with more than 500 lots exchanged by the close, while total trading volumes for tin on a daily basis have exceeded 500 lots on average since February 27.Yet against the afternoon's price spike, market participants dealing in tin were struggling to make sense...