The price of tin rose by more than 2% and copper rose to more than $8,000 per tonne on Wednesday January 20, with the London Metal Exchange base-metals complex bullish at the start of the Biden presidential administration in the United States.
"Risk sentiment was positively skewed on January 20 on the official inauguration of the newly elected President of the United States, Joe Biden," Fastmarkets analyst Andy Farida said."Critics of outgoing [former president] Donald Trump saw him as a volatile individual while the change in leadership is set to bring some form of normality and peace," he added. "Markets like certainty, and [Biden's election] has so far boosted confidence and demand outlook for metals because the new administration has promised large infrastructure spending in the coming months."Tin's three-month price rallied by 2.2% on Wednesday evening...