European low-lead premium drops 10% week on week.
Bargain tin was available in Baltimore after US suppliers were undercut by offers from abroad.
China’s cif Shanghai standard-grade tin premium was rangebound.
European premiums slip; low-lead tin near two-year low
European tin premiums dropped this week due to unusually weak demand for this time of year and ample available supply, despite low Indonesian exports.
Fastmarkets’ premium assessment for 99.9% standard grade tin ingot (around 300ppm lead content) was $410-450 per tonne in-warehouse Rotterdam on Tuesday, down $10 from a week prior and the lowest since December last year.
“There is very little spot demand. It's definitely not booming out there,” a trader said, while two other traders said the European market was well supplied at present.
“People are sitting on their hands and only doing hand-to-mouth business,” another market source said.
The second quarter typically marks the beginning of the peak...