The three-month tin price on the London Metal Exchange was higher at the close of trading on Thursday October 24, climbing by more than 1% amid low turnover while nickel futures maintained upward momentum over the afternoon.
Tin's outright price on the LME closed at $16,775 per tonne on Thursday, a climb of 1.2% on the day with just 241 lots of metal exchanged. This was among the metal's lowest trading volume figures in October, the highest being some 586 lots exchanged on October 17.Prompting higher prices in the metal, LME inventories were subject to a bout of fresh cancellations this week, with some 765 tonnes of metal booked out of mostly LME-registered warehouses in Port Klang this week.On-warrant LME tin stocks were now 5,770 tonnes, dipping below the 6,000 tonne mark for the first time since August 22.Physical participants dealing in tin...