LME Tin Hits Record $12,500/Ton On Speculative Buying

LONDON --London Metal Exchange three-month tin extended its recent gains to hit a fresh record high of $12,500 a metric ton Wednesday on speculative buying amid ongoing supply concerns, said analysts.

Tin has climbed roughly 21% to $12,500/ton since hitting a low for 2007 of $9,849/ton on Jan. 9.

Follow-through speculative buying after the recent gains as well as trade covering amid the uncertainty in Indonesia has contributed to Wednesday's gains, said Robin Bhar of UBS.