Strong availability, climbing price keeps European premiums steady
- Strong warrant availability cools European ingot demand
- US market sentiment gains traction
- Domestic demand weakens for Chinese tin market.
In Europe, Fastmarkets assessed the tin 99.9% ingot premium, in-whs Rotterdam
, at $360-420 per tonne on Tuesday, maintaining a range held since November 19.
The tin 99.9% low lead ingot premium, in-whs Rotterdam
, was similarly unchanged on Tuesday, holding at $400-475 per tonne and flat since September 24.
Physical market participants dealing in tin ingots across Europe maintained that strong availability and a lackluster pickup in demand at the start of the year has limited the spot-market liquidity in the region, while free-floating London Metal Exchange tin warrants continued to be available at low cost.
In addition, tin’s three-month price on the...