Base metals prices on the London Metal Exchange closed the week on divergent paths, with most metals on a strong footing after a week of intense rallies.
The three-month tin price hit its highest since November 2016 after it hit a high of $21,895 per tonne - record low stocks and restocking ahead of Lunar New Year (mid-February) have kept tin prices well supported."With barely 1,800 tonnes of LME stock remaining and cancelled warrants at 600 tonnes, tin made a new recent high to $21,825 with the cash/three-month spread showing $250 per tonne backwardation at the close of the second ring," Sucden Financial added. Zinc prices also climbed to a new 2018-high this afternoon, hitting their highest since August...