The London Metal Exchange three-month tin price increased during morning trading on Monday April 27, following a fresh cancellation of 285 tonnes, while strong buying in zinc futures pushed the metal to breach nearby resistance levels.
LME tin's outright price was recently at $15,335 per tonne, a 3.3% incline from Friday's closing price of $14,890 per tonne, while turnover was high at more than 200 lots as of 9:45am London time. Yet amid continued fears over global economic instability since the Covid-19 outbreak, broad risk-aversion and low liquidity conditions for LME tin have translated into volatile price action, which is trading either side of $15,000 per tonne. Large stocks moves predominantly supported buying in LME tin this morning, with some 285 tonnes freshly canceled out...