Tin Slumps Most in Seven Years on Spike in Chinese Selling
- Base metals slumping on U.S.-China trade concern, factory data
- Prices also fall as rising LME stockpiles dent sentiment
Tin cans move along a conveyor on a production line.
Photographer: Dario Pignatelli/Bloomberg
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Tin plunged the most in more than seven years in London following a wave of selling from China’s onshore metals market, where sentiment has soured as investors focus on signs of economic weakness.
The metal, which is mostly used in soldering, dropped 6.3% to settle at $17,700 a metric ton on the London Metal Exchange, the biggest drop since September 2011. The decline tracked a sharp slump in prices as the evening trading session got underway on the Shanghai Futures Exchange.