99.9% tin premiums hit one-year high in Rotterdam
Higher freight costs inflate premiums in the US
LME price spread backwardation continues to narrow from late-January highs
European premiums for 99.9% purity tin ingots firmed to a one-year high after shipment lags from Indonesia continued to squeeze supply of physical metal.
Premiums for “three-nines” tin basis in-warehouse Rotterdam rose to $360-400 per tonne on Tuesday from $320-360 last week.
Market participants reported trades at and above the high end of the range but the bulk of deals remain below.
A lack of available tonnage can be traced back...