Tin continued its advance to new 2021 highs in morning trading on the London Metal Exchange on Friday January 29, while the rest of the complex weakened slightly from Thursday, with nickel and lead's forward prices dropping by 1%.
Three-month tin reached a new year-to-date high of $23,140 per tonne during early trading, its highest intraday price since June 10, 2014, when it traded at $23,200 per tonne. It eased slightly by 9am to $22,985 per tonne, $10 lower than its Thursday 5pm closing price. The metal's three-month price on the LME has surged by nearly $2,000 per tonne since the start of the month. A higher United States dollar index, which was at 90.63 on Thursday morning, up from 90.53 on Wednesday, capped the rest of the base metals' prices, however. The index appears to be...