Rotterdam 99.9% premium hovers near one-month low
Selling activity picks up in US
Chinese premiums stable
U-turn in European tin premiums, Indonesian exports sound retreat
The premium for 99.9% tin in Europe retreated sharply from the $400-per-tonne mark it hit last week to trade around one-month lows, weighed down by a spike in Indonesian exports and a sudden drop in spot buying inquiries.
The premium for 99.9% tin ingots with 300ppm lead content fell to $350-375 per tonne in-warehouse Rotterdam on Tuesday, from a 16-month high of $375-400 per tonne last week, basis the midpoint of the range.
“Consumers are not in the market – it’s very disappointing but there is a lack of new business,” a trader said.
“Since the start of the month, export licenses have been granted in Indonesia and although the material is not yet here, there’s been a lot of selling,” he...