A persistent backwardation in tin's forward curve on the London Metal Exchange pressured the tin premium in Europe in the two weeks to Tuesday July 14; meanwhile, premiums in all other regions assessed by Fastmarkets were unchanged.
LME tin price climbs, but backwardation inhibits European tradeUS tin premiums flat despite surging Covid-19 casesExcess Chinese supply outweighs arbitrage opportunitiesBackwardation, persistent inflows pressure Europe premiumIn addition, LME-registered warehouses in Rotterdam saw fresh inflows last month, with total on-warrant material in the region now at 485 tonnes, which further pressured the metal's in-warehouse...