US buyers shocked by premiums
- US premiums routinely surpass $3,000 per tonne
- European traders foresee further rises from MSC, soaring shipping costs
- Covid-19 pandemic factors into subdued trade in Taiwan.
Tin premiums in the United States seem to know no limits, rising by almost 16% in the past two weeks and leaving buyers in shock at deals routinely being conducted above $3,000 per tonne.
The world’s second-largest tin exporter, Malaysia Smelting Corp (MSC), declared itself unable to produce tin in the middle of the assessment period
, due to Covid-19 lockdowns in Malaysia that have since been extended to the end of June.
US sources did not universally share the view in Europe that the US would be most affected
by MSC’s declaration of force majeure
on June 7.
The US was already badly hit by the global shortage of 2021 because it imports almost all the...