Premium for standard grade tin ingot, in-warehouse Rotterdam, falls 7.4%
Adequate supply keeps US premiums unchanged
Shanghai premium flat in quiet, pre-holiday trade
European premiums soften after 1,000t inflow
In Europe, Fastmarkets assessed the premium for 99.9% standard grade tin ingot, with 300ppm lead content, on an in-warehouse Rotterdam basis, at $420-460 per tonne on Tuesday January 29, falling from its highest level since September 2016 on $450-500 per tonne.
For much of January, participants in the tin market have largely drawn upon alternative supply to assuage continued delays to Indonesian exports, the world’s second largest global exporter of the metal. These supplies came predominantly from the London Metal Exchange stocks, mostly Malaysian Smelting Corp (MSC) material.
Private smelters in Indonesia remain unable to...