US market reports uptick in buying momentum
European traders cautious of tightening spreads
Demand woes keep Asia premium static
US range widens on countervailing trends
The premium range widened for tin ingots in the US on Tuesday August 13, reflecting some opposing influences.
The fundamentals are weak, with surplus regional supply and poor demand, yet buyers are coming back into the spot market to take advantage of the low tin price on the London Metal Exchange, sources said.
Fastmarkets’ tin 99.85% ingot premium, in-whs Baltimore widened to $350-550 per tonne on Tuesday from $375-475 per tonne on July 30.
Fastmarkets’ tin grade A min 99.85% ingot premium, ddp Midwest US rose on the high end of the range to $470-575 per tonne on August 13, from $470-540 per tonne on July 30.
Most assessments were clustered in that range, though some reported difficulty selling lower while others said they had sold...