Easy to write sensational headlines re tin. But the metrioric rise deserves nothing less. last night continued the incredible relentless strength in tin. Mkt open on LME saw a all time world record(WR)and i went to bet thinking it may just hold above $25,500. Forget that thought! Price just kept powering and closed a fraction under 26,000... a jump of $725 in a single session!! That's 2.9%! As i wrote last week... why would MLX sell their tin today when a day later they get $400-700 more!! incredible stuff.
Bloomberg. "Tin for three-month delivery rose $725, or 2.9 percent, to $25,925 a ton in London. Earlier, the metal reached $26,010, the highest price ever. The previous record, set in May 2008, was $25,500.
This year, tin has jumped 53 percent (almost all of the rise is from early June MM), the most among metals traded in London. Production disruptions in Indonesia and Democratic Republic of Congo have helped bolster prices.
Aluminum, nickel, lead and zinc also rose on the LME.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)