GLOBAL TIN WRAP: Premiums fall to multi-month lows in Europe; numbers rise in Singapore but remain flat in US, China

European tin premiums fell to multi-month lows in the week to Tuesday December 12 amid year-end destocking, while numbers in Singapore ticked higher on expectations of tightened supply due to planned maintenance at Indonesian smelters. Chinese and US markets held steady amid the seasonal slowdown.

  • 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...

Published

Shivani Singh

Echo Ma

Millicent Dent

Perrine Faye

December 13, 2017

10:25 GMT

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