- European premiums decline on weak demand, year-end destocking
- Planned maintenance at Indonesian smelters stokes supply fears, nudging Singapore premiums higher
- US, Chinese premiums steady amid soft demand ahead of seasonal holidays
Rotterdam premiums fall to multi-month lows on year-end destocking
The spot premium for standard 99.9% purity tin ingots in-warehouse Rotterdam
fell by $10 per tonne to $290-340 per tonne, according to Metal Bulletin’s assessment on Tuesday, the lowest it has been since March.
Traders attributed the decline to year-end destocking and weak demand before the Christmas holidays and seasonal plant shutdowns.
“Material is available, albeit not in huge quantities. Demand in the past four or five weeks has been abysmal,” one trader said, reporting spot trades five times below usual volumes at this time of year.
“No one wants to hold material over the Christmas period. People would rather lower their numbers and sell now then having...