GLOBAL TIN WRAP: European premiums firm on improved demand, steady contango; US, China markets stagnant

Tin premiums in Europe increased in the week to Tuesday November 3, with the metal's sharp price decline in late-October prompting fresh buying momentum after a sustained contango in the metal's forward spread.

This came despite a static tin market in the United States, where uncertainty over the Covid-19 pandemic remains a key barrier to trade, while premiums in China were steady despite a marked weakness in supply across the region. 
European market logs fresh bout of buyingUS participants remain cautious amid market uncertaintyLow supply leaves China market stagnantEuropean demand strengthens; premiums tick higher 
European tin premiums were subject to upward pressure in the week to November 3, with a steady contango during much of October and a dip in the London Metal Exchange's three-month price last week prompting improved buying momentum. 

In Europe, Fastmarkets assessed the tin 99.9% ingot premium, in-whs Rotterdam at $350-425 per tonne on Tuesday, up by 6.9% from $325-400 per tonne two weeks earlier and the first change in the premium since July 14. 
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