GLOBAL TIN WRAP: European premiums continue to rise; US premiums near $2,000/t

The global tin supply squeeze shows no sign of abating, pushing United States premiums close to $2,000 per tonne and European premiums to new all-time highs in the two weeks to Tuesday March 23.

European, United States premiums hit all-time highs; supply tightness continues globallyTaiwan cif premium holds at $400-500 per tonneTin cash-to-three-month spread hovers around $2,000-per-tonne backwardation since March 17London Metal Exchange stocks at 1,685 tonnes on March 24, lowest since February 24. Tin concentrate imports into China fell by 14% year-on-year in January-February to 20,500 tonnes, according to Chinese customs data. Myanmar imports fall by 26.5% over the same period. Another spurt for US tin premiums follows a brief pause
Tin premiums jumped again to new highs in the US on Tuesday, with the seemingly tiny amount of spot tin remaining in the country being sold and offered at far higher levels.
The two US premiums increased by about 19% and 22%, after a brief pause in the last assessment two weeks earlier, when premiums were flat for lack of tin to trade.

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