07/31/2024
“The London Metal Exchange (LME) tin price has surged to near two-year highs...as exchange inventory slides and yet another threat to an already stressed supply chain emerges.
LME three-month metal hit $33,130 per metric ton on Wednesday, April 10, a level last traded in June 2022. Currently trading at $32,000, tin is now up by 27% since the start of the year. Copper, the second-best performer among the LME base metals suite, is up by a comparatively modest 10% since the start of January.
Speculative buying has played its part in the sharp rally, with fund positioning as bullish as it’s been since March 2022, when the price was on a super-charged run to above $50,000 per ton.
Tin is clearly back in the spotlight as investors buy into the market’s bull narrative of resurgent demand and challenged supply” (reuters.com).
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