The three-month tin price on the London Metal Exchange was higher across morning trading on Tuesday May 5, supported by the largest fresh cancelation in the tin market this year, while climbing exchange stocks and lackluster trade continues to pressure the aluminium price.
The LME tin price was recently at $15,165 per tonne, up 0.5% from Monday's closing price of $15,085 per tonne. The price spiked to an intra-morning high of $15,280 per tonne earlier, with just 131 lots traded as of 9:45am London time. There was a fresh cancellation of 725 tonnes of tin from warehouses in Singapore, with another 40 tonnes booked out of Baltimore, United States. This takes total on-warrant LME tin stocks down to just 2,990 tonnes out of...