Tin premiums in Europe, North America and Asia were stable over the week to Tuesday July 9, with European market participants questioning a further downside move from its lowest level since November 2018, and US and Chinese premiums holding firm against lagging demand.
Global premiums static in quiet trading conditions. European market remains at November 2018 low, with downside bias. US market participants slow to return after national holiday European market holds at eight-month low In Europe, Fastmarkets assessed the tin 99.9% ingot premium, in-whs Rotterdam, at $380-430 per tonne on Tuesday, with the premium range holding at its lowest level since November 2018. A volatile May-June for the London Metal Exchange tin price has warranted concern from market participants, with the metal's three-month price moving in a range of some $1,500 per tonne since May. Meanwhile, the forward spreads have frequently swung between contangoes and backwardations. Tin's three-month price has recently traded at just over $18,000 per tonne, closing at $18,255 per tonne on Tuesday and marking a more than 1% fall on Wednesday so far...