European premiums hold firm
- US premium holds steady on lack of trades
- Closed arbitrage window for most of the past two weeks limits buying interest
- European market mulls poor demand amid price rise.
In Europe, Fastmarkets assessed the tin 99.9% ingot premium, in-whs Rotterdam
, at $325-400 per tonne on Tuesday, unchanged from last week’s level.
Physical market participants dealing in tin ingots across Europe maintained that spot demand continued to be almost non-existent, while a climbing three-month LME tin price, and persistent tightness across the metal’s forward curve, further negated prospective business.
LME tin’s three-month price closed at $17,930 per tonne on the afternoon of July 29, falling from an intraday high of $18,160 per tonne, with the metal’s price suggesting a push above the $18,000-per-tonne threshold.
Still, with tin production out of...