Europe awaits inflow as Indonesian export ban is lifted
US sees new players, though some suppliers are offering off-spec material
China quiet, partly on lack of imports this week
European premiums firm, eyes on Indonesia’s April election
European tin premiums held firm this week due to a lack of spot supply and limited exports from Indonesia, which market participants see continuing until at least the April 17 general election there.
Fastmarkets’ premium assessment for 99.9% standard grade tin ingot was stable at $420-460 per tonne in-warehouse Rotterdam on Tuesday March 12, unchanged from a week prior.
The Indonesia Commodities & Derivatives Exchange (ICDX) ended a five-month suspension of key ore verifier PT Surveyor Indonesia on March 4 while launching a new physical tin contract supported by bonded warehouses within the country.
“The new method of export was only instituted this Monday. It will take time for the smelters to procure/process ore,...