Tin May Surge as Demand Beats Supply, Macquarie Says
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Tin, the best performer on the London Metal Exchange this year, may extend its advance as supply lags behind demand, reducing global stockpiles, according to Macquarie Group Ltd.
The metal, used in packaging, may gain 17.5 percent from $21,600 a metric ton, analysts including Jim Lennon wrote in a report. That’s $25,380, according to Bloomberg calculations. Tin reached a record $25,500 on May 15, 2008, before the global recession cut prices to less than $10,000 by December that year.