The London Metal Exchange aluminium forward price was dented by almost 1% by a sizeable delivery of material to registered warehouses, while tin recorded the biggest increase at the 5pm close on Monday January 18.
Tin's three-month price was up 0.6% on Monday at 5pm to $21,245 per tonne. The metal has rebounded from this year's low of $20,525 per tonne on January 11, and is edging closer to the January 5 high of $21,360 per tonne, also the highest intraday price reached by tin since April 2019.
Demand for the metal remains high, with LME warehouses stocks decreasing by 57% since December 1 to 1,635 tonnes. Tin's forward curve has been in a significant backwardation since the start of 2021, with the benchmark cash/three-month spread...