Tin Gains to Highest Level Since Lehman’s Failure on Stockpiles
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Tin, the best performing industrial metal this year, climbed to the highest level since the collapse of Lehman Brothers Holdings Inc. in September 2008 as shrinking inventories signaled steady demand.
The metal for three-month delivery advanced as much as 2.1 percent to $19,800 a metric ton on the London Metal Exchange, and traded at $19,500 at 1 p.m. in Shanghai. That’s the highest intraday price since Sept. 3, 2008, before Lehman’s failure triggered a credit-market seizure and global recession.