GLOBAL TIN WRAP: Premiums hold steady in Europe despite mixed sentiment; US, Asian premiums flat

Tin premiums in Europe held firm in the week ended Tuesday April 9, with participants in the market unsure of the status of Indonesian exports, while both US and Asian premiums were unchanged amid steady demand and a closed import window respectively.

European premiums flat amid sparse spot activity  US market exhibiting more typical trading conditions  Closed China import window keeps premiums firm European premiums hold amid mixed market sentiment Fastmarkets assessed the premium for 99.9% standard grade tin ingot, with 300ppm lead content on an in-warehouse Rotterdam basis, at $410-450 per tonne on Tuesday, unchanged after last week’s $10 drop. Participants in the European tin market continue to indicate that demand remains stable amid consistent customer inquiries. Yet an ongoing lag in the full resumption of Indonesian exports after a six-month suspension of key inspector PT Surveyor Indonesia ended continues to distort the market. This week, business was reported to Fastmarkets both above and below the current range, with some participants confident that private smelters in Indonesia – which are said to number around 20 facilities, predominantly in the Bangka Island region – could face barriers restarting operations. While others are...

Published

Hassan Butt

Violet Li

Orla O'Sullivan

April 10, 2019

14:24 GMT

London, New York, Shanghai