Falling supply prompts US premium uptick
European market eyes long-term contract negotiations
China's absence for National Day holiday limits Asian tin premiums
US tin premium tick up
The tin premium ticked up in the United States. This reflected reduced domestic supply and buyers being more willing to accept higher premiums on lower metal prices and in the context of negotiations for 2020 contracts. Buyers and sellers both reported a $20-40 per tonne uptick, the first change in US tin-ingot premium for six weeks.
Fastmarkets’ assessment for the Baltimore in-warehouse premium was $430-575 per tonne on Tuesday October 8, up from $400-550 per tonne on Tuesday September 24, a level that had held since August 27.
Fastmarkets’ assessment for the same 99.85% grade-A ingots, delivered Midwest, was $520-575 per tonne on October 8, up from $495--575 per tonne on September 24.
One supplier pointed to...