MARKET TALK: LME Tin At New High On Trade Short Covering

London Metal Exchange tin is trading at a new high as illiquid conditions and short covering by trade players lifts the market to $11,925 a metric ton, a broker notes. The $12,000/ton is the next psychological target, he says, although the upside is unlimited given the market is in uncharted territory. LME tin remains supported by ongoing worries over supplies of the metal from the world's largest producer, Indonesia. LME tin trades last at the $11,925/ton high, up 4% from Monday's low.