The three-month tin price on the London Metal Exchange was the standout performer at the close of trading on Monday June 8, keeping well supported throughout the afternoon amid falling exchange stocks, while aluminium futures breached $1,600 per tonne at the close for the first time since March 19.
Tin's underlying price closed at $16,665 per tonne on Monday afternoon, up from an intraday low of $16,415 per tonne, while turnover was moderate at just under 300 lots. Prompting the upturn, total on-warrant stocks of tin are now at their lowest level since May 2019, with just 1,375 deliverable tonnes held in LME-registered warehouses.But with the metal's total open interest now at 18,754 total positions, down from 19,569 total positions on May 14, market depth continues to...