Tin, zinc and nickel all set new 2020 highs during trading on Wednesday December 9, while aluminium increased above 2% on a positive day for metals across the London Metal Exchange base metals complex.
Tin stood at $19,442 per tonne at the close on Wednesday, a 1.4% increase from $19,175 per tonne at 5pm on Tuesday.Tin's three-month price rose substantially over the day, reaching $19,510 per tonne during afternoon trading - a new 2020 high - and a 13.3% rise from the previous annual intraday high at $17,210 per tonne on January 2. Some 100 tonnes of tin were freshly canceled from LME warehouses in Port Klang, Malaysia on Wednesday morning. The metal's cash/three-month spread moved to a $12.75-per-tonne backwardation on Wednesday evening from $3-per-tonne backwardation on Tuesday."All the...