European market participants question possible tin concentrate shortage
US merchants report oversupplied market
Weak demand caps Asian tin premiums
European premiums hold amid market volatility
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 June 11, maintaining a range held since April 2.
Participants in the physical tin market continue to report broadly volatile market conditions amid an 80% uptick in LME stocks over the May period, with some suggesting the market is adjusting to rumored concentrate shortages and sizable amounts of off-warrant material.
Total on-warrant tin stocks are now at 3,275 tonnes, up from just 555 tonnes on-warrant this time last month – the lowest level of deliverable London Metal Exchange tin since 1989.
“I think there’s a lot of unknown tin stocks around in China and I’m seeing a fair amount of...