GLOBAL TIN WRAP: US tin shortages see premiums continue to rise; Europe trade quiet

Tin premiums in the United States continued their pronounced rise in the week to Tuesday January 12, with shortages of material in the region driving continued panic-buying, while the metal’s soaring price and tight spreads on the London Metal Exchange limited the spot-market opportunities in Europe.

  • Panic buying sees US market strengthen
  • European demand hits plateau despite short supply
  • LME price breaches $21,000 per tonne.

US tin consumers squeezed as premiums rocket
Extreme tin shortages in the US catapulted the Baltimore and Midwest premiums to their highest-ever levels in Fastmarkets’ latest assessments on January 12, gaining by 32% and 44% respectively in the past two weeks.
What was a normally small and stable market has erupted, with no tin being produced in the country and imports expected to be delayed amid shipping problems caused by the Covid-19 pandemic.

The premium for tin delivered to consumers’ premises showed the biggest jump on Tuesday, with an increase of $275 per tonne at the assessment midpoint since December 29. Some isolated delivered sales and offers, outside Fastmarkets’ range, were reported as much...

Published

Hassan Butt

Orla O'Sullivan

January 13, 2021

19:42 GMT

New York, London