GLOBAL TIN WRAP: Premiums decline in the US, flat elsewhere amid pandemic-related lull

The Covid-19 pandemic universally suppressed physical demand for tin in the two weeks to Tuesday June 2.

  • Tin premiums decline in the United States with the pandemic fully registering on end demand.
  • Backwardation in London Metal Exchange price spreads further inhibits European trade.
  • Chinese supply low but so is demand, curbing premiums.

US premiums fall, alongside demand
Both tin ingot premiums in the US declined in the two weeks to Tuesday, reflecting a fall-off in demand related to the Covid-19 pandemic.
Fastmarkets assessed the tin 99.85% ingot premium, in-whs Baltimore at $400-525 per tonne on Tuesday, down by $25-30 per tonne from the prior assessment of $430-550 per tonne on May 19.
The premium had initially slipped to $430-550 per tonne on May 5, when demand concerns began to outweigh supply concerns.

Prior to that, from March 24 to April 21, the premium had been at its highest level in a year...


Anna Xu

Hassan Butt

Orla O'Sullivan

June 04, 2020

04:20 GMT

Shanghai, London, New York