US tin premiums steady on high plateau
- Peruvian mines increased their tin production in February, totaling 1,949 tonnes and up by 8.82% from 1,791 tonnes in the same month last year.
- The three-month tin price on the London Metal Exchange touched $26,065 per tonne on Tuesday, the most since March 23.
- Some 340 tonnes of tin have been booked for removal from Port Klang warehouses since April 1.
Tin premiums were unchanged at their unprecedented heights in the United States due to a lack of metal to trade, market participants said.
That, more than the holiday lull around the Easter (April 4) and Passover holidays, explained the lack of movement, sources added.
This was only the third time in 10 Fastmarkets assessments since December 1, 2020, when tin premiums did not rise on a worsening shortage of spot supply.
The squeeze felt most in...