Global tin premiums were flat in the week ended Tuesday July 28, with a rising three-month tin price on the London Metal Exchange and tightening forward spreads being the key deterrents to spot business, while a closed arbitrage window and lack of spot liquidity meant that deals remained rare.
US premium holds steady on lack of tradesClosed arbitrage window for most of the past two weeks limits buying interestEuropean market mulls poor demand amid price rise.
European premiums hold firm
In Europe, Fastmarkets assessed the
tin 99.9% ingot premium, in-whs Rotterdam, at $325-400 per tonne on Tuesday, unchanged from last week's level.
Physical market participants dealing in tin ingots across Europe maintained that spot demand continued to be almost non-existent, while a climbing three-month LME tin price, and persistent tightness across the metal's forward curve, further negated prospective business.
LME tin's three-month price closed at $17,930 per tonne on the afternoon of July 29, falling from an intraday high of $18,160 per tonne, with the metal's price suggesting a push above the $18,000-per-tonne threshold.
Still, with tin production out of...