Improved spot market liquidity pushes European 99.9% premium up
- European 99.99% premium jumps 5.7% on improved buying appetite.
- US market continues to question Los Angeles stockpile.
- Sufficient stocks keep Chinese premium steady.
In Europe, Fastmarkets assessed the tin 99.9% ingot premium, in-whs Rotterdam
at $375-450 per tonne on Tuesday, up by $15-30 per tonne or 5.8% from $360-420 per tonne on February 25 and the first move in the range since November 19, 2019.
The assessment for the tin 99.9% low lead ingot premium, in-whs Rotterdam
was unchanged on Tuesday, holding at $400-475 per tonne and maintaining the same range held since September 24, 2019.
Physical participants dealing in tin ingots across Europe are now indicating that demand conditions in the region are beginning to improve, with deals heard at both $375 per tonne and $450 per tonne this week for 99.9% ingots.