European premiums steady for past two months
US participants concerned over muted demand amid ample supply
China import window remains closed
European tin premiums steady amid rising LME price
In Europe, Fastmarkets’ assessment of the premium for 99.9% standard grade tin ingot, with 300ppm lead content on an in-warehouse basis, at $420-460 per tonne on March 26, maintaining a level held since January 29.
On March 4, the Indonesia Commodity & Derivatives Exchange (ICDX) ended a five-month suspension of key smelter inspector PT Surveyor Indonesia alongside the launch of a new physical tin contract supported by bonded warehouses within the country.
Since then, market participants continue to report a lack of clarity regarding the resumption of Indonesian tin trade; with some confident that independent smelters will begin exports this month and others expecting trade to resume after Indonesian elections in April.
Yet well-informed participants continue to suggest...