The tin premium in Europe remains at a 21-month high amid continued uncertainty over Indonesian supply, while thin spot activity and a closed import arbitrage window kept premiums firm in the United States and China.
European participants seek direction amid Indonesian supply outage US traders at odds with buyers in 'dull' market Chinese premiums flat on rising SHFE stocksEuropean premiums hold steady; spot activity remains thinThe premium for 99.9% standard-grade tin ingot with 300ppm lead content, in-warehouse, held firm at $370-440 per tonne on Tuesday November 13, remaining at its highest level since January 2017 and 30% higher than levels in mid-October amid continued market uncertainty over Indonesian tin exports. Following the suspension of key smelter inspector PT Surveyor Indonesia in October, the European tin premium reached an almost two-year high of $380-450 per tonne last month.Market participants are continuing to report a slowdown in spot activity amid a significant curtailment in Indonesia supply, yet sentiment remains mixed on the issue, with a segment of the market turning attention toward long-term supply deals. While others remain confident that business can be conducted...