Tin hits record high in London

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Tin prices hit a record high on Friday, driven by concerns over a weak dollar, stretched global supplies and keen Chinese demand, analysts said.

On the London Metal Exchange, the contract for three-month tin jumped to $33,000 per tonne shortly after midday. That beat the previous record of $32,799 struck on February 15.

China is the world's biggest producer of tin but also consumes vast amounts while Indonesia is the largest exporting nation of the industrial metal.

© 2011 AFP

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