GLOBAL TIN WRAP: Premiums flat across the board

Global tin premiums were unchanged across the board on Tuesday March 26 with the European market struggling to obtain a clear direction amid diverse views on Indonesian tin supply. Meanwhile, tin premiums in China and the United States were stable.

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...

Published

Hassan Butt

Violet Li

Orla O'Sullivan

March 27, 2019

06:15 GMT

Shanghai