Base metals prices on the London Metal Exchange were mixed across morning trading on Thursday July 4, with low liquidity capping three-month prices in broadly narrow ranges.
Overnight, tin's three-month price continued to stabilize above the $18,000 per tonne level after falling by more than 6% at Tuesday's close.Forward spreads have also been favorable in tin, with the benchmark cash/three-month recently spread trading in a $7 per tonne contango, but narrowing from $36 per tonne on Wednesday. The metal was recently seen trading at around $18,195 per tonne after reaching an intra-morning high of $18,390 per tonne, with 38 lots of tin exchanged as of 9:00am London time. "Today being July 4 takes the United States out of the market and...