The three-month tin price on the London Metal Exchange was the standout performer during morning trading on Thursday March 23, clearing resistance at $15,100 per tonne, while steady buying in nickel futures over the morning also pushed its price higher.
Tin's outright price on the LME was recently at $15,190 per tonne, an incline of more than 2% from Wednesday's closing price of $14,860 per tonne. Turnover over this morning sits just 7 lots shy of Wednesday's 143 lots, at 136 lots traded as of 9:45am London time. Supply concerns out of key producing regions in South American and Southeast Asia have given investors more reason to forward buy LME tin futures, with open interest in the metal climbing 225 positions overnight to a total of 19,342 open positions. A fresh cancellation of 315 tonnes on Wednesday gave further momentum...