Tin Advances to 20-Month High on Dwindling Stockpiles of Metal
- LME tin stockpiles decline to the lowest since November 2008
- Copper, aluminum, zinc, lead and nickel also gain in London
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Tin climbed to the highest since January 2015, nearing $20,000 a metric ton, as inventories of the metal tracked by the London Metal Exchange continued to fall, hitting the lowest in almost eight years.
Tin for delivery in three months added 0.3 percent to settle at $19,810 a metric ton at 5:50 p.m. in London, after touching $19,950. Prices are up 11 percent in the past two months and 36 percent year-to-date. Stockpiles fell 5.2 percent to 3,460 tons, the lowest since November 2008.