Indonesia is seeking higher tin prices as the largest exporter presses on with a policy that metal be traded on a local exchange before shipment, affirming a shift that roiled the market when it began three months ago.
Russia reduced gold reserves for the first time in a year in September as Mexico cut holdings for a 17th straight month, according to the International Monetary Fund. Kazakhstan expanded assets for a 12th month.
Iron ore will be supported through the final quarter and into the first half of next year as a global surplus emerges only later in 2014, Morgan Stanley said in a forecast that contrasts with Citigroup Inc.’s outlook.
Gold will extend losses as the U.S. economy improves, according to Citigroup Inc. and Morgan Stanley, which said the Federal Reserve’s surprise decision to hold stimulus for now will help prices only in the short term.
The rates to obtain aluminum tumbled the most in 20 months in Europe last month and retreated from a record in the U.S. as lawmakers and regulators scrutinize long lines for metal that buyers say raised their overheads.