London Metal Exchange (LME) three-month tin last week touched $35,955 per tonne, eclipsing the previous record of $33,600 dating from 2011. Currently trading around $35,400 per tonne, tin is up 68% on the start of the year. Fastmarkets has lifted its U.S. Midwest delivery premium assessment to a record high of $3,600-$4,400 over the LME cash price. Until they do, it's hard to see how the tin supply chain is going to normalise. China doesn't have any strategic tin stocks to sell as it does for copper, aluminium and zinc.
