The London Metal Exchange three-month tin price closed at $25,125 per tonne on Wednesday March 10, while the lead price sunk to levels last seen in November 2020 alongside a broad-based consolidation for most base metals.
Tin's near-3% price rise on Wednesday comes on the back of period of weakness which targeted the entire complex since the start of March following an earlier surge at the end of February. The price hit a high of $27,500 per tonne on February 25 and then stooped as low as $22,779 per tonne just three days later. It has since bounced back amid a fundamental picture that remains one of constrained supply and increased demand. On Tuesday, tin's three-month price was $24,435 per tonne at 5pm,...