Metal bulletin. Leading the complex higher over the afternoon,...

Metal bulletin.

Leading the complex higher over the afternoon, the three-month tin price increased by more than 1% over the afternoon, making its most significant approach toward $22,000 per tonne since January 2018. Prompting the metal’s strong performance of late – typified in an incremental rise of more than 15% since its 2018-low of $18,145 per tonne on November 27 – continued delays to exports from Indonesia, the world’s second largest tin producer, remain price supportive. In addition, the LME’s depleting inventory, which sits at just over 1,300 tonnes on-warrant has prompted tin participants to seek alternative supply, with the International Tin Association estimating as much as 30,000 tonnes of material sitting off-warrant in China.