Fresh inflows puzzle European tin market; premiums steady
- European market questions LA inflows
- US sentiment improves
- Asia demand in question
In Europe, Fastmarkets assessed the tin 99.9% ingot premium, in-whs Rotterdam
, at $360-420 per tonne on Tuesday, unchanged since November 19 last year.
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.
Yet with physical market premiums steady, many market participants were blindsided by a fresh inflow of some 1,000 tonnes to LME-registered warehouses in Los Angeles last week, with stock volatility in the region uncommon.
“I see no sense in this [stock] move, and I...