GLOBAL TIN WRAP: European 99.99% premium falls; all others flat

The spot tin market is reportedly slow in all regions despite talk of forthcoming production cuts to tackle excess supply.

  • 99.9% European tin premium declines for the first time in five months
  • Trade in the United States holds in range but some say floor is moving lower
  • Asian premiums hold in thin trade

European premiums decline on excess supply, soft demand
Fastmarkets’ tin 99.9% ingot premium, in-whs Rotterdam, was $360-420 per tonne on Tuesday November 19, down 2.5% at the midpoint from $380-440 per tonne when the price was previously assessed two weeks ago. This was its first decline since June 25.
Strong availability of free-floating Metal Exchange warrants and continued uncertainty about the outright price and underlying fundamentals have discouraged prospective buyers.
On-warrant tin stock on the London Metal Exchange remains is ample at 5,805 tonnes; traders, unable to find a premium for 99.9% ingots in the physical market, are delivering onto the exchange as a market of last resort.

The bottom...

Published

Hassan Butt

Violet Li

Orla O'Sullivan

November 20, 2019

17:49 GMT

London, Shanghai, New York