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Tin Stockpiles Climb to Highest Since June 6 on Malaysian Supply

Dec. 28 (Bloomberg) -- Tin stockpiles in warehouses monitored by the London Metal Exchange rose 1.5 percent to 12,750 metric tons, the highest since June 6.

Most of the gain was from deliveries to Port Klang and Johor, Malaysia, according to data from the LME today. Tin stockpiles have climbed 4.6 percent this year. Lead stockpiles dropped 1.3 percent to 323,400 tons, the lowest since Nov. 8, on declines in Port Klang and Johor, according to the exchange.

Aluminum canceled warrants jumped 3.4 percent to a record 2.24 million tons, the data show. Nickel canceled warrants dropped 14 percent to 11,658 tons, the biggest drop since June 7 to the lowest since Oct. 26. Canceled warrants are orders to take metal out of warehouses.

Tin for delivery in three months fell 0.4 percent to $23,300 a ton by 12:26 p.m. in London, trimming this year’s advance to 21 percent, the most of the six main metals on the LME. Nickel is down the most of the metals this year after falling 8.3 percent and aluminum is up 2.7 percent.

To contact the reporter on this story: Agnieszka Troszkiewicz in London at atroszkiewic@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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