Tight tin supply in Europe has market participants looking to Indonesia's elections next month for guidance on renewed supply from the major tin exporter; meanwhile, the United States has adequate stock but new suppliers are looking to edge into the market and China has a quiet week.
Europe awaits inflow as Indonesian export ban is lifted US sees new players, though some suppliers are offering off-spec material China quiet, partly on lack of imports this week European premiums firm, eyes on Indonesia's April election European tin premiums held firm this week due to a lack of spot supply and limited exports from Indonesia, which market participants see continuing until at least the April 17 general election there. Fastmarkets' premium assessment for 99.9% standard grade tin ingot was stable at $420-460 per tonne in-warehouse Rotterdam on Tuesday March 12, unchanged from a week prior. The Indonesia Commodities & Derivatives Exchange (ICDX) ended a five-month suspension of key ore verifier PT Surveyor Indonesia on March 4 while launching a new physical tin contract supported by bonded warehouses within the country. "The new method of export was only instituted this Monday. It will take time for the smelters to procure/process ore,...