US offers increase
- US premiums climb for first time since Sept 22
- Price swings convince European market participants to adopt wait-and-see stance
- China market stagnant amid big discounts, scant import activity
Tin premiums rose in the United States on reduced supply, a partial revival in spot demand and a rising three-month tin price on the London Metal Exchange - it has gained $840 per tonne over the past two weeks. This has incentivized sellers to hold onto any spare stocks.
As well, 2021 contract prices look set to rise, which is also boosting offers now, some sources said.
Fastmarkets assessed the tin 99.85% ingot premium, in-whs Baltimore
at $450-495 per tonne on Tuesday, up from $400-495 per tonne in the previous assessment.
Fastmarkets’ assessed the tin grade A min 99.85% ingot premium, ddp Midwest US at $500-600 per tonne on November 17, up from $450-555 per tonne on November 3....