SINGAPORE, May 20 (Reuters) - Shanghai tin prices hit a three-month high on Wednesday, while London tin climbed to its highest in more than three weeks, as worries over a supply deficit this year pushed up prices.
Three-month tin on the London Metal Exchange (LME) rose to $15,500 a tonne, its highest since April 28, while the most-traded tin contract on the Shanghai Futures Exchange (ShFE) climbed as much as 3.5% to 135,390 yuan ($19,064.72) a tonne, a level unseen since January 23.
Analysts said reduced tin production because of the coronavirus-led lockdown is likely to result in supplies falling short of demand and ensure prices for the metal, used in electronics, will outperform those of other base metals this year.
* OTHER PRICES: LME copper was unchanged at $5,355 a tonne at 0154 GMT, aluminium rose 0.1% to $1,493 a tonne while zinc fell 0.4% to $2,025.50 a tonne.
* SHANGHAI PRICES: ShFE copper advanced 0.3% to 43,750 yuan a tonne, aluminium was up 0.3% to 12,915 yuan a tonne and nickel jumped 1.5% to 102,910 yuan a tonne.
* JAPAN: Japan’s core machinery orders slipped in March, suggesting a widening hit to the economy from the coronavirus.
* BATTERY: General Motors Co is “almost there” on developing an electric vehicle battery that will last one million miles, a top executive said on Tuesday.
* US: U.S. homebuilding dropped by the most on record in April and permits for future construction tumbled, underlining fears that the pandemic would lead to a deep economic contraction.
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* Asia stocks are likely to come under pressure, tracking declines on Wall Street, while gold prices were buoyed by safe-haven demand as economic indicators pointed to more signs of recession.
0600 UK CPI YY April
0900 EU HICP Final MM, YY April
1400 EU Consumer Confid. Flash May
1800 US Federal Open Market Committee will release
the minutes of its April 28 - 29
Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
ARBS ($1 = 7.1016 yuan) (Reporting by Mai Nguyen, Editing by Sherry Jacob-Phillips)