The three-month tin price on the London Metal Exchange decreased by more than 2% at the close of trading on Wednesday May 29, with volumes traded reaching their highest level since 2017 while spread tightness in the metal's forward curve began to ease.
Some 850 lots of tin were exchanged by the close on Wednesday afternoon, with tin's three-month price dipping 2.6% from an intraday high of $19,215 per tonne to close at $18,715 per tonne. Downward price pressure emerged after 955 tonnes of tin was delivered into LME-registered warehouses in Baltimore, the largest inflow into the region in more than a decade. Today's delivery was also the largest tin inflow since January of this year.Total on-warrant LME tin stocks are now above 2,500 tonnes for the first time since December 2018 and up by just under 80% after hitting their lowest level since 1989 earlier this month with just 555 tonnes on-warrant. Physical participants continue to speculate on the...