Tin continued to follow its recent pattern throughout November. Following the sharp decline at the end of October, prices rallied during the month to new highs. Prices consolidated once again toward the end of the month but have again moved higher to test a new high at US$ 19,100/tonne. According to traders, the reason for the continued moves higher is a perception of tightness in the market. This is despite the boost to refined tin production due to restart of EM Vinto's furnaces. Indeed, cancellations on the LME have risen significantly over the last few weeks as consumers look to supplement supply.
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