GLOBAL TIN WRAP: Premiums flat in all regions, Indonesian export uncertainty endures

Fastmarkets premiums held in all regions on Tuesday April 23 despite supply uncertainty from Indonesia and stocks held off-exchange.

European buyers stay out of spot market.  The US market is heavily supplied and spot demand is quiet over the Passover/Easter holiday.  China’s import window closed. European premiums hold despite falling LME tin price In Europe, 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, maintaining a range held since April 2. Despite the Indonesian Commodity & Derivatives Exchange’s (ICDX) announcement on March 4 that it would end the suspension of PT Surveyor Indonesia, a major verifier of tin exports from the world’s second largest tin producer, participants are continuing to question whether those exports will resume. Amid this uncertainty, Indonesia’s state-owned tin producer PT Timah continues to exhibit dominance in stock...

Published

Hassan Butt

Violet Li

Orla O'Sullivan

April 24, 2019

16:48 GMT

New York, London, Shanghai