The tin premium in Europe accelerated to a 21-month high on concerns surrounding Indonesian tin supply, while premiums in the United States and in Asia were immobile on sufficient supply.
European premiums at 21-month high US contracts hint at climbing premiums Asia premiums steady on abundant stocks Indonesian supply crunch lifts European premiums In Europe, the premium for 99.9% standard-grade tin ingot with 300ppm lead content, in-warehouse, climbed more than 6% to $380-450 per tonne, reaching its highest level since January 2017 amid continued supply concerns from Indonesia. After the government suspension of key smelter inspector PT Surveyors Indonesia, participants are continuing to report difficulty sourcing tin from Indonesia, while trades on the Indonesia Commodity & Derivatives Exchange (ICDX) have come to a complete halt since October 26. "The market is now incredibly distorted and the premium is by no means the main driver here. Everyone is looking at material flows, because tin supply could soon run dry," a European tin trader told Fastmarkets....