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...