The three-month tin price on the London Metal Exchange fell by 2% at the close of trading on Monday July 15, dipping below the nearby $18,000 per tonne support level despite a predominantly positive trading session for the rest of the complex.
Trading volumes were high for tin over the afternoon, with more than 450 lots of tin exchanged by the close. The metal's three-month price reached an intraday low of $17,850 per tonne before closing higher at $17,900 per tonne. Daily tin volumes traded on the LME averaged around 300 lots over June, yet since the price fell to a three-year low of $17,585 per tonne on July 2 - largely due to technical selling - trading activity has steadily climbed. Yet despite the...