European premium boosted by Indonesian export freeze
US premiums flat in quiet market
Chinese premiums stable on seasonality, closed import window
European tin premium up before a tight January
The premium for 99.9% tin in Europe edged slightly higher this week in anticipation of a supply crunch in January, while stocks are depleted and exports from Indonesia remain suspended.
The premium for 99.9% standard ingot grade with 300ppm lead content rose to $410-460 per tonne in-warehouse Rotterdam on Tuesday, from $400-450 per tonne a week prior. Business was reported at both ends of the range, and even up to $495 per tonne for very small tonnages.
“December is dead but people are starting to panic about January because there is very little supply coming out of Indonesia and not much stocks left,” a tin trader said.
Until now, the impact of the export freeze from Indonesia was offset by weak demand...