Costly trucking boosts US delivered tin premium to May 2019 high
- US delivered premium up at May 2019 levels
- Steady fundamentals in Europe keep Rotterdam premiums flat
- Shanghai premiums unchanged in quiet spot conditions
The delivered US tin premium rose on Tuesday to its highest level since it was at $545-660 per tonne in early May 2019. Lofty trucking rates on top of tight regional supply boosted the premium, market sources said.
Fastmarkets assessed the tin grade A min 99.85% ingot premium, ddp Midwest US
at $550-650 per tonne on Tuesday, up by $50 per tonne (9.1%) from $500-600 per tonne on November 17.
And while the tin premium in Baltimore was steady, market participants said pressure was on the upside due to tight supply and climbing marine freight costs.
Fastmarkets assessed the tin 99.85% ingot premium, in-whs Baltimore at $450-495 per tonne on Tuesday, unchanged since it...