GLOBAL TIN WRAP: US, European premiums stay at record highs despite some signs of cooling

Tin premiums were unchanged in all regions in the week to Tuesday July 27 amid continued short supply and costly transportation but easing backwardation.

  • Lower offers emerge in quiet US spot market
  • European supply “a mess” set to improve by September
  • More tin stock delivered to Kaohsiung

US premiums hold off undercurrents
Tin premiums in the United States held steady at their highest levels amid limited spot trading, but with some signs of cooling in what has been a red-hot market in 2021, with a global shortage felt most in the country.
The more-active traders contradicted some reports that premiums were starting to decline, and tin prices remain elevated on the London Metal Exchange. The futures price of tin hit an all-time high of $34,995 per tonne in early trading on Tuesday. But a slower increase in the same-day cash price than in the futures price over the assessment period could signal less immediate pressure for tin, sources said.

“There’s more tin available now on the LME and freight’s starting to come down,”...

Published

Orla O'Sullivan

Ana de Liz

Yiwen Ju

July 28, 2021

04:15 GMT

London, New York, Shanghai