The tin premium in Europe held firm on Tuesday December 18, but remains elevated amid continued Indonesian export delays, while quiet market conditions and a closed import window kept US and Chinese premiums flat week on week.
Europe awaits Indonesian export resolution Reduced output caps domestic US market Chinese premiums steady amid seasonal lull European premiums remain elevated despite spot inactivity Fastmarkets assessed the premium for 99.9% standard grade tin ingot with 300ppm lead content, on an in-warehouse Rotterdam basis, at $410-460 per tonne on Tuesday, with participants continuing to report quiet market conditions. Some tin participants remain confident that delays to Indonesian exports, which have been in effect since mid-October, will abate in the New Year, while other market participants are holding out for Indonesia's general election on April 17, 2019 for greater clarity on the country's rapidly expanding economy. In the weeks after the suspension of the country's biggest inspector, PT Surveyor Indonesia, on October 15, refined tin exports fell by more than 40%. Exports for November have fallen to a two-and-a-half year low of...