European tin premiums have surged this week on concerns about continued supply from Indonesia, while premiums in the United States and China have remained firm on reduced demand and ample supply.
Rotterdam 99.9% in-warehouse premium at 5-month high US tin demand expected to slow Closed import window keeps China premiums flat.European premium bolstered by production woesIn Europe, the premium for 99.9% standard-grade tin ingot with 300ppm lead content, in-warehouse, climbed to a five-month high on Tuesday October 23 at $350-425 per tonne.This was up from $290-325 per tonne on October 16, its lowest level since March 2017, amid continuing developments in Indonesia's crackdown on illegal mining.Following the government's suspension of key smelter inspector PT Surveyors, market participants have reported increased difficulty in sourcing tin from Indonesia, the world's second-largest tin producer."Until this is resolved, there's a high chance that there could be no tin coming out of Indonesia," a European tin trader told Fastmarkets.Tin exports...