Tin is a chemical element in the Periodic Table of the Elements, with the symbol Sn and the atomic number 50. It is a silvery-white shiny and very soft heavy metal. Salient are its low melting point and the relatively high boiling temperature.
Tin, like copper, was one of the first metals mined and its excellent qualities and shiny finish made it a highly sought after commodity. Particularly liked for its fusion abilities in the making of alloys, notably bronze, and its non-toxic qualities, tin was soon traded in many parts of the world. Not surprisingly, it was traded on the LME from the market’s outset in 1877. Today it is still used in the production of bronze, pewter and die-casting alloys and, in modern engineering, to make tungsten more machineable. However, the largest uses for tin are for the production of solders and for tin plating (providing an attractive coating to iron and steel products).
Tin is predominantly obtained from tin-soap residues in rivers or at the seabed. Only one-fifth comes from mines. The malleable and ductile metal can be used manifold and is most notably deployed in the electrical industry (soldering materials, 45%), at the production of steel containers for transports of groceries (tinplate) and in the chemical industry.
ÂMost important trading place for tin is the London Metal Exchange (LME), where the tin futures contracts count to the contracts which are traded fewest of all. The traded contracts are quoted in U.S. Dollars per ton and are reopened on daily basis each time for three months. Additionally offered are contracts with duration from up to 15 months and a Spot-price for immediate delivery. A contract comprises 5 tons (t) each.
Most important stock exchange centers: LME (London Metal Exchange).
Price quotation: U.S. Dollars per ton (t)
Contract-cycles: Spot-price for immediate delivery, daily prompts for 3 months, weekly from 3 to 6 months, monthly from 7 to 15 months.
Contract-size: 5 t
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