GLOBAL TIN WRAP: Chinese interest jolts stagnant Europe market; US trade muted

Global tin premiums in the week to Tuesday October 6 were unchanged, supported by a persistent contango across the London Metal Exchange benchmark cash/three-month spread for tin, while a steady uptick in Chinese buying interest saw European sellers take a closer look at arbitrage opportunities against a static domestic market.

China's buying activity attracts European sellersCash/3-month spread holds in contangoRising supply, freight costs keep US market quiet.
European sellers enticed by Chinese interest
Tin premiums in Europe were steady in the week to Wednesday October 7, with the Rotterdam in-warehouse market showing minimal spot activity against steady supply and wide forward spreads.
LME tin's benchmark cash/three-month spread was recently trading in a $32 per tonne contango, and has traded in contango for most of the September-October period.
Fresh buying interest from Chinese merchants has emerged this month, however, capturing the attention of European sellers against dormant domestic European demand for tin.

As a result, the tin 99.9% ingot premium, in-whs Rotterdam, was assessed at $325-400 per tonne on October 6, unchanged since July 14....

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