US premiums rise even as demand declines
- US sales conclude higher in continued short supply, gaining by up to 8.6%.
- Europe’s 99.9% ingot premium continues to drift lower, down by 3.6%.
- Taiwan’s tin premium flat for the fifth week.
Tin premiums rose in the United States for the first time since August 24, gaining by up to 8.6% in the past two weeks.
But market participants - whose views had been unanimous - are now quite divided on whether US premiums are trending up or down.
Deals were concluded high in the new range, but some buyers saw a downtrend due to falling end demand, especially for solder.
Yet, global supply remains tight and tin prices hit their highest ever levels on the London Metal Exchange as the assessment period ended. Both tin futures and the cash price - more reflective of immediate supply - peaked...