Tin premiums started 2018 on a downtrend with European and US premiums reaching multi-month lows due to low seasonal demand and good supply availability after strong exports from Indonesia in the fourth quarter of 2017.
European tin premiums at 10-month low; US also softer Indonesian exports in December remain above 7,000 tonnes Spot activity remains slow because of the post-holiday lull and the high price environment. The London Metal Exchange three-month price jumped to $20,100 per tonne on January 2, the highest level since mid-October, before easing back to around $19,865 per tonne on January 3. The backwardation in the LME cash/three-month spread widened again to $75 per tonne from $40 per tonne before Christmas, deterring stock holding. "The backwardation might fire up again - there are big open positions in February and March," a trader said. Rotterdam 99.9% premium at 10-month low Premiums for standard 99.9%...