Dear readers,
Tin recovered from an end-February stumble in the base metals complex. The price now sits at nearly US$ 26,000/tonne. Three month prices had previously peaked at US$ 27,500/tonne on 25 February, before falling below US$ 23,000/tonne at the beginning of March.
Strong fundamentals continue to support high prices. Despite the backwardation flaring back out to around US$ 3,000/tonne, little metal has entered the LME. Premiums are reportedly at record highs, with little metal available on spot deals. Customers are having to over-order metal, if possible, to ensure stocks are available should deliveries be delayed. Heavier-than-normal seasonal rains are impacting both Indonesian and Brazilian mining, constraining metal output.
Tin price, page-272
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43.0¢ |
Change
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Mkt cap ! $389.6M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| 43.5¢ | 330468 | 10 |
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