Something very interesting for all? If you go to the SRZ site on HC, there is a chart by a contributor matching the LME tin price to the SHFE (Shanghai Futures Exchange) price converted to $US. The SHFE price is consistently well above the LME price, currently by about US$3,000. Never expected that.ON SHFE tin is currently US$38,000 vs LME $35,000.
No doubt the China price is what MLX tin should be sold in because the refining takes place in China. So why are we paid the LME price? Is that so? If the cost of flying a ton of tin to China from London is accounted for that might eliminate any easy arbitrage profits? Why would anyone selling on the LME?
Probably there is something I don't understand, but if so, I'd be glad to be relieved of my ignorance.....
4Q2024 Valuation, page-53
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