Tin prices have soared to a seven-year high after a manufacturing-driven buying frenzy that has drained physical stocks of the commodity. The metal, usually associated with cans, has become a key material for the global electronics industry, given its use in circuit boards and wiring. The shift to working from home has boosted demand for computers and other devices, while China has also been stockpiling the metal.
Investors poured a record $58bn into stock funds last week while slashing their cash holdings. Technology-focused funds were at the centre of the surge, with net inflows reaching a new high of $5.4bn, according to data collated by Bank of America. The US had the lion’s share of overall stock inflows, at $36.3bn. Investors also piled $13.1bn into global bond funds while pulling $10.6bn from cash. The data underlines how low interest rates and expectations for a big growth rebound this year have whetted investors’ appetite.
Would you like to comment on this article or view other readers' comments?
Register (it’s quick and free) or sign in now.
Please read our Comment Policy before commenting.