Tin's three-month price on the London Metal Exchange declined during morning trading on Monday August 5, maintaining its downward price action while nickel futures traded higher.
Reaching an intra-morning low of $16,800 per tonne from a high of $17,025 per tonne, tin's futures price is down by some 1.3% on the day with just over 60 lots traded as of 9:05am London time. Selling pressure began to mount for LME tin on Friday August 2, pushing the metal's outright price below $17,000 per tonne for the first time since 2016.Tin's three-month price is down by around 12% since June, when LME stocks climbed up tenfold from 555 tonnes - the lowest level since 1989 - to over 6,000 tonnes. Despite the persistent downturn, physical market participants continue to suggest that the metal's sliding price cannot be...