Tin premiums in both Europe and China held firm in the week ended Tuesday January 15 despite mounting concerns over continued delays to Indonesian exports, while premiums in the United States moved higher for the first time since June 2018, with low stocks and a widening backwardation adding upward pressure to premiums.
European market considers alternative supply solutions US market beginning to feel Indonesian impact China benefits from abundant tin supply European premiums steady amid heightened market concerns In Europe, Fastmarkets assessed the premium for 99.9% standard grade tin ingot with 300ppm lead content, on an in-warehouse Rotterdam basis, at $450-500 per tonne on Tuesday January 15, holding ground at its highest level since September 2016. With continued delays to exports from Indonesia since October 2018, concerns throughout the tin market remain palpable, with some participants expressing doubt that a resolution on the issue will come before government elections in Indonesia this April. Meanwhile, tightness in the physical market remains in place, with the bulk of the market struggling to find business below the $450 per tonne premium level and offers for Rotterdam material seen as high as $600-650 per tonne. In addition, there are continued drawdowns on the LME's mostly...