Tin set a new year-to-date high on the London Metal Exchange on the morning of Tuesday June 13, while the rest of the complex edged upwards too, with macroeconomic factors and a new wave of Covid-19 hitting metal-producing countries supporting higher prices.
Tin reached $32,285 per tonne during early trading, before trimming back to $32,135 per tonne at 9am, but still higher than Monday's closing price of $32,094 per tonne.
Growing supply concerns due to the spread of Covid-19 cases in major producing centers such as Malaysia and Indonesia have led to the metal's decade-high prices.
Other metals have also edged higher, with copper reaching $9,509 per tonne, up from $9,409 per tonne on Monday at the close,...