GLOBAL TIN WRAP: Climbing LME tin price caps European premiums; US, Asian markets stable

Global tin premiums remained unchanged on Tuesday September 10 due to a climbing three-month London Metal Exchange tin price which has hampered spot liquidity, while weak demand and stagnant market conditions have capped premiums in the United States and Asia.

  • Elevated price deters European buyers 
  • US markets stabilize while buyers return 
  • Production cuts combat weak supply/demand in China

European premiums steady amid climbing LME price, weak demand
In Europe, Fastmarkets assessed the tin 99.9% ingot premium, in-whs Rotterdam at $380-430 per tonne on Tuesday, staying at its lowest level since November 2018.
Participants have been closely watching tin’s three-month price on the LME. The metal has staged a recovery from a sell-off at the end of August that caused the price to reach a four-year low of $15,565 per tonne on August 27.

Since then, the outright metal price has appreciated by 11.6%, reaching an intraday high of $17,380 per tonne on Wednesday, largely due to production cuts from key tin smelters in China. A group of 14 refined tin smelters in China announced on September 5 that it will curtail 20,200 tonnes of...

Published

Hassan Butt

Violet Li

Orla O'Sullivan

September 11, 2019

15:16 GMT

London, New York, Shanghai