US premiums fall amid Covid-19 resurgence
- Covid-19 resurgence hinders US market
- Renewed spot interest fails to stop falling Rotterdam premium
- Strong availability keeps sellers in control in China
Tin ingot premiums declined amid reduced spot trade stemming from an increase in Covid-19 cases in the US, with a widening backwardation during the assessment period also contributing.
Fastmarkets assessed the tin 99.85% ingot premium, in-whs Baltimore
at $400-500 per tonne on June 30, down by 2.7% from $400-525 per tonne on June 16.
Fastmarkets assessed the tin grade A min 99.85% ingot premium, ddp Midwest US
at $450-540 per tonne, down by 3.4% from $450-575 per tonne in the same comparison.
Big buyers, unusually, reported no spot purchases of tin during the period, and sizeable sellers indicated little to no sales.
“May was bad and June was even worse,” one...