LME LATEST - Tin near 25-year highs in PM rings BaseMetals.com Tin prices extended gains during afternoon ring sessions on Monday on the LME, coming closer to its recent 25-year high, while other base metals maintained upward momentum.
Tin rose to $14,575/14,600 a tonne, up $275 or 1.9 percent, and looking to re-test the $14,600 high reached on March 27. That was its highest price since January 1982, when its nominal price reached $15,931 a tonne, or $30,524 in real terms (adjusted to inflation), according to estimates from Barclays. Copper was quoted at $7,865/7,875 a tonne, up $160 or 2 percent from Friday, paying little attention to a rare increase in warehouse stocks. Warehouse stocks rose 300 tonnes to 174,600 tonnes, breaking a run of five successive daily falls, while the tonnage of cancelled warrants -- metal set to be removed -- dropped to 12,975 tonnes from 14,275 tonnes. Nickel was offered at $47,200, up $700 or 1.5 percent, as stocks continue to be whittled away. Nickel inventories fell for the ninth successive time -- down 102 tonnes at 4,272 tonnes, the lowest since March 20. BaseMetals.com 12, Camomile Street, London EC3A 7PT +44 (0) 20 7929 6339 [EMAIL PROTECTED]
