GLOBAL TIN WRAP: All premiums flat; market focus turns to Indonesian election for export regulation shift

Tight tin supply in Europe has market participants looking to Indonesia’s elections next month for guidance on renewed supply from the major tin exporter; meanwhile, the United States has adequate stock but new suppliers are looking to edge into the market and China has a quiet week.

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,...

Published

Perrine Faye

Violet Li

Orla O'Sullivan

March 13, 2019

16:20 GMT

New York, London, Shanghai