GLOBAL TIN WRAP: European 99.9% premium rises on improved spot market liquidity; US, Chinese rates stable

The European in-warehouse 99.9% ingot premium increased for the first time in four months on Tuesday March 10, owing largely to improved spot market conditions and uncertain macroeconomic conditions, while US and Chinese premiums were steady amid ample availability.

  • 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.

Improved spot market liquidity pushes European 99.9% premium up
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.


Hassan Butt

Violet Li

Orla O'Sullivan

March 12, 2020

06:25 GMT

London, New York, Shanghai