The price of tin has jumped to a new high, making the metal, widely used in electronic goods, the first base metal to surpass the peak it hit during the boom years before the global financial crisis.The record comes as resurgent demand, particularly from Asia, is being met by sluggish supply in all the industrial metals, driving prices higher.
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Copper, the red metal used in electrical wiring and piping, rose above $8,200 a tonne for the first time in two years, and there is widespread expectation in the industry that it will post an all-time high above $9,000 within months.
Even aluminium, the laggard of the group whose supply is plentiful, has risen 25 per cent since June and is trading near a two-year high.
This bodes well for manufacturing in the future, as it indicates demand is increasing.
